Yandex Group Announces Q2 Financial Results

July 28, 2022
Share this Post: 

Russian giant Yandex has announced its quarter two results for 2022 ending 30 June, reporting strong performance for its search and portal division.

Highlights include:

  • Search and portal revenues up 31% YoY (51.2m RUB)
  • Adjusted EBITDA down 27% YoY for the six months ending June 30
  • Total Group revenue up 45%
  • Arkady Volozh, co-founder, stepped down from his positions as Executive Director and Chief Executive Officer of Yandex N.V. and from his board and executive positions with its international subsidiaries in June
  • The company admitting that "visibility over the short- and medium-term is limited" due to "geopolitical developments"

Classifieds revenues (including, Yandex Realty and Yandex Rent) increased by 5% in Q2 2022 compared with Q2 2021, with Yandex stating that "positive growth was supported by improvements in our monetization strategies and value-added services, increased dealers’ retention as well as strong performance of Yandex Realty."

However, Classifieds EBITDA fell to RUB 0.5 billion in Q2 2022 (RUB 0.7 billion in Q2 2021)



Commenting on the Russian economy sentiment towards the nation, Yandex stated that "current geopolitical tensions and their impact on the Russian and global economy have created an exceptionally challenging environment for our business and our team."

However, the company went on to say that "our analysis of the effect from the current geopolitical crisis on goodwill and non-current assets shows no material impact."

Addressing sanctions being placed on Russian companies, Yandex clarified that "Neither Yandex N.V. nor any of its subsidiaries is a target of sanctions in the United States, European Union, Switzerland or United Kingdom, and the Yandex group is not owned or controlled by any persons who have been designed under such sanctions."


July 28, 2022
Harvey is an experienced property journalist and copywriter. He has written about the property industry since 2015, starting at The Property Franchise Group in the UK, before moving to Spain to work for Spotahome. He has blogged for the private rented sector, ghostwritten for UK property experts and written case studies for franchise owners around the UK. Harvey joined Online Marketplaces as a News Editor in 2022.

Subscribe to our mailing list to get the famous, free Friday newsletter!

News and analysis to help build better online marketplace businesses, in your inbox, every Friday

Related News

Onthemarket Debt
OnTheMarket Launches First Majority Agent-Owned CRM

OnTheMarket has launched its own proprietary customer relationship management (CRM) platform for estate agents following a successful trial period. Dubbed...

Read More
Square Yards Construction 3
Square Yards Launches Commercial Real Estate Fractional Ownership Product to Indian Market

The diversified real estate marketplace company Square Yards has launched a fractional investment product to the Indian market. Offered through...

Read More
Rightmove CEO Sells More Shares Ahead of Retirement

Rightmove CEO Peter Brooks-Johnson has sold a portion of his shareholding in Rightmove ahead of his retirement next year. A...

Read More
Visual Guide Uk 1
Ultimate Visual Guide to Property Portals in the UK

The UK's property market is an interesting one: powered by a mammoth portal, flush with challengers and regional portals to...

Read More

Editor's Pick