"Yandex": record advertising and e-commerce revenue

  • «Yandex» reported a significant increase in revenue in the first quarter of 2024 by 40%
  • The main drivers of growth were advertising and Yandex.Market.
  • The company continues to actively integrate artificial intelligence into its products.

On April 26, «#Yandex» released #materials on the financial results for the first quarter of 2024. The company recorded revenue of 228 billion rubles, which is 40% more than last year. The main contribution to the revenue growth was made by improved advertising technologies and «Yandex.Market».

Financial Results

The adjusted EBITDA (company's earnings before interest, taxes, etc.) increased by 107% and reached 37.6 billion rubles, and the net profit (after deductions) grew by 47%, amounting to 19.4 billion rubles. Yandex's share of the #Russian search market increased to 64.5%.

Innovations

«Yandex» continues to integrate artificial intelligence into its products, which improves the quality of services provided and increases advertising revenues. The implementation of #AI also facilitates the optimization of all processes within the company, from logistics to personalized advertising offers.

Potential Risks

Despite the current financial success, «Yandex» expects changes in financial indicators in the coming quarters, which may be related to geopolitical changes and internal restructuring within the company.

To Publishers

Pay attention to the successful experience of using AI. Integrate similar tools more actively to increase advertising revenue. Note that Meta has also previously reported that it doubled advertising revenue thanks to the use of artificial intelligence. Use AI for SEO, improving advertising efficiency, and user experience.

Forecast

Further development in corporations of products based on AI, as well as, in general, in the industry, even more products with AI in all areas.

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