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Yandex's annual revenue from the search and portal segment amounted to approximately 440 billion Russian rubles in 2024. This marked an increase of 30 percent compared to the previous year’s figure. The e-commerce, mobility, and delivery segment earned around 592 billion Russian rubles in 2024, having made up 54 percent of the company's total revenue in that year.  

History and business model

Yandex, which stands for “yet another indexer,” was presented to the wide public for the first time in 1997. The company developed its first contextual banner a year after its launch, and ever since contextual advertising has become the core business segment of the search engine. Some of the most significant milestones were marked in 2002 when Yandex became profitable, in 2005 when the company expanded beyond national borders, and in 2011 when Yandex got listed in NASDAQ stock market. New innovative services have been developed by the company on a yearly basis since its foundation.

Yandex.Taxi was introduced in 2011 and has soon become one of the most profitable segments of the company. Apart from Russia, it operates across CIS countries, Eastern Europe, and the Middle East, combining taxi aggregation and food tech businesses. In 2024, the mobility segment yielded a revenue of roughly 228 billion Russian rubles. 

Following the Western sanctions on Russia over the invasion of Ukraine in 2022, the Russian business of Yandex was sold to local investors and kept the name Yandex. The international business unit separated and was renamed Nebius in 2024.

Financial highlights

�۲��Ի���’s��annual revenue along with the operating costs and expenses have been growing year-on-year. In 2024, the former was close to 1.1 trillion Russian rubles, and the latter amounted to over one trillion Russian rubles. The search and portal segment, with over 220 billion Russian rubles in adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA), was the most profitable segment of the group in 2024.