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Yandex posts 46% rise in US GAAP revenue for 2022 to $7 bln

Revenues in the search and portal segment gained 47% in Q4 2022 to $936 mln

MOSCOW, February 15. /TASS/. Revenues of Yandex under US GAAP rose by 46% in 2022 compared with 2021 to 521.7 bln rubles ($7 bln), the company reported on Wednesday.

Adjusted net profit totaled 10.8 bln rubles ($145 mln) last year compared with 8 bln rubles ($106.03 mln) profit in the previous year. Adjusted EBITDA amounted to 64.1 bln rubles ($861 mln) in the reporting period compared to 32.1 bln rubles ($425.53 mln) in 2021.

Q4 revenue soared by 49% year-on-year to 164.8 bln rubles ($2.2 bln). Adjusted EBITDA in the period totaled 17.2 bln rubles ($231 mln) compared to 9.7 bln rubles ($128.45 mln) in the previous year.

Revenues in the search and portal segment gained 47% in Q4 2022 to 69.7 bln rubles ($936 mln). Mobile revenues represented 59.6% of the company’s search revenues in Q4.

"Share of Russian search market, including mobile, averaged 62.6% in Q4 2022, up 2.4 pp from 60.2% in Q4 2021 and an improvement from 62% in Q3 2022, according to Yandex Radar. Search share on Android in Russia was 62% in Q4 2022, up 2.8 pp from 59.2% in Q4 2021 and almost flat compared to 61.9% in Q3 2022, according to Yandex Radar. Search share on iOS in Russia was 48% in Q4 2022, up 4 pp from 44% in Q4 2021 and relatively stable compared to 48.3% in Q3 2022," the according to the report. Mobile search traffic was 67.7% of Yandex’ total search traffic in Q4 2022.

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