Russian tech giant Yandex reported annual revenues surpassing 1 trillion rubles for the first time in 2024, the company announced Thursday.
The record earnings followed Yandex’s corporate split last year, when its Dutch holding company sold its Russia-based assets to a domestic consortium for $5.4 billion — a discounted sale amid a Western corporate exodus.
Last year, Yandex’s revenue grew by 37% compared to 2023, reaching more than 1.09 trillion rubles ($12.3 billion). Adjusted net profit jumped by 94% to 100.9 billion rubles ($1.1 billion), while adjusted earnings before interest, tax, depreciation and amortization rose by 56% to 188.6 billion rubles ($2.1 billion).
The company forecasts revenue growth of more than 30% in 2025.
After its corporate split in July, Yandex reported a sharp rise in core earnings and announced plans to propose its board approve dividend payments of 80 rubles per share — the first time since 2010.
Once dubbed “Russia’s Google,” Yandex has grown into the country’s leading technology firm, dominating sectors from online search and advertising to ride-hailing and food delivery.
In 2024, the company’s search and portal segment generated 439 billion rubles ($4.9 billion), while its taxi and delivery services brought in 592.4 billion rubles ($6.7 billion).
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