Russian tech giant Yandex reported yearly revenues going beyond 1 trillion rubles for the very first time in 2024, the business announced Thursday.The record earnings followed Yandexs corporate split in 2015, when its Dutch holding company sold its Russia-based assets to a domestic consortium for $5.4 billion an affordable sale amidst a Western business exodus.Last year, Yandexs income grew by 37% compared to 2023, reaching more than 1.09 trillion rubles ($12.3 billion).
Changed net profit leapt by 94% to 100.9 billion rubles ($1.1 billion), while changed earnings before interest, tax, depreciation and amortization rose by 56% to 188.6 billion rubles ($2.1 billion).
The business anticipates earnings growth of more than 30% in 2025.
After its business split in July, Yandexreported a sharp increase in core profits andannounced strategies to propose its board approve dividend payments of 80 rubles per share the first time given that 2010.
Once dubbed Russias Google, Yandex has actually become the nations leading technology company, controling sectors from online search and advertising to ride-hailing and food delivery.In 2024, the business search and portal section generated 439 billion rubles ($4.9 billion), while its taxi and delivery services generated 592.4 billion rubles ($6.7 billion).