Yandex's 3-month adjusted US GAAP net income down 43%

AK&M 04 May 2021 13:55

In the first quarter of 2021, US GAAP adjusted net profit of Yandex decreased by 43% year-on-year to RUB 2.2 billion, according to the company's statistics.

Revenue increased by 39% year-on-year to RUB 73.14 billion, adjusted EBITDA by 5% to RUB 10.43 billion.

With the current results in mind, the total revenue of Yandex Group can be projected at RUB 315-330 billion in 2021, the statement notes.

Yandex is a Russian multinational company operating in the information technology sector. Its parent company is registered in the Netherlands. The company owns a same-name web search engine, a web portal, along with web services in several countries.