Revenue in the Plus and entertainment services segment

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ussian multinational information technology company Yandex MKPAO announced its financial results for the first quarter of 2024. The company's revenue for the reporting period amounted to RUB 228.3 billion. This is 40% more than in the first quarter of 2023 - RUB 162.9 billion. Net profit showed slightly greater growth (47%) - RUB 19.4 billion in the first quarter of 2024 against RUB 13.2 billion for the same period in 2023. Adjusted EBITDA increased by 107% - RUB 37.6 billion against RUB 18.2 billion.

The company's share cambodia whatsapp resource of the Russian search market in Q1 2024 was 64.5% (RUB 93.6 billion). This is 38% more than for the same period in 2023 - RUB 67.7 billion. Revenue growth is due to the development of search technologies and increased efficiency of Yandex advertising products, as well as the expansion of advertising inventory, primarily on mobile platforms.

In e-commerce services, turnover increased by 42% and amounted to RUB 199 billion against RUB 140 billion in Q1 2023. The share of turnover of third-party sellers on Yandex Market reached 91%.

FG Finam analyst Leonid Delitsyn analyzed the e-commerce sector: "In e-commerce, Yandex seems to be a specialized rather than a universal player. I don't see any queues for clothes and shoes at Yandex, like at Wildberries pick-up points. The number of active Yandex buyers increased by 22% and amounted to 18.7 million. At the same time, Ozon has 46 million buyers. Even if Yandex maintains its growth rate of retail buyers, and Ozon's drops to zero, Yandex.Market will still not catch up with the leading marketplace at its current rate in less than five years. But following its example and going into the red for the sake of growing its scale of operations is also unprofitable. This will obviously have a negative impact on the value of the company's shares and its capitalization. Therefore, Yandex is looking for different ways to increase revenue, for example, selling inexpensive Lunnen laptops with a subscription to media services. Yandex will probably try many similar inventions in the near future.
in Q1 2024 increased by 54% compared to the same indicator for Q1 2023 and amounted to RUB 20.5 billion. The growth was mainly due to an increase in revenue from Yandex Plus subscription sales (55% year-on-year) amid an increase in the total number of paying subscribers and an increase in the penetration of additional subscription options. Revenue growth was also influenced by good dynamics of other revenues (including advertising, licensing, revenue from ticket sales and other revenue categories).

Revenue in the classifieds segment (Avto.ru, Yandex Real Estate, Yandex Rent, and Yandex Travel) in Q1 2024 increased by 56% compared to the same figure in 2023 and amounted to RUB 6.9 billion. It increased due to the strong results of Avto.ru due to the expansion of the dealer base, increased activity on the platform, and improved monetization, as well as due to Yandex Travel amid the strengthening of the service's position in the market. The growth in revenue was also influenced by the results of Yandex Real Estate in the category of classifieds on the new buildings market.