Yandex.Classifieds Reports Record Revenue at Lower Margins for Q3

October 28, 2021
Share this Post: 

Russian search giant Yandex has released the results from its Q3 activities. Apart from running the most popular search engine in Russia, the NASDAQ listed firm also runs several vertical businesses including an online classifieds division known as Yandex.Classifieds.

The Classifieds segment includes autos marketplace, employment portal Yandex.Jobs and Yandex.Realty which counts itself among the challengers in the real estate vertical.

Results for Yandex.Classifieds for the three months ending September 30th show that the business increased revenues by 31% over a lacklustre and pandemic-affected Q3 of 2020. The $29.5 million generated represents the best revenue return for any quarter for the segment but came at an EBITDA margin of 22.5%, significantly down from the 36.5% seen in Q2.

While the increase in revenue was ascribed by the company's report to the autos market picking up, the drop in EBITDA margin for the quarter was put down to "increased investments into the development and marketing of new products, which allowed for improvement to our market share despite intensifying competition".

Yandex's real estate portal competes in the market with the likes of DomClick, Prosus-owned Domofond and which is set to go public on the NYSE.

October 28, 2021
Edmund got to know the world of portals and marketplaces working at Mitula Group (which became Lifull Connect after the buyout in 2018). He worked directly with hundreds of portals across the world in his role in the content department for three and a half years before transferring to the SEO department to understand the inner workings of listings sites. He joined Online Marketplaces as Head of Content in March 2020.

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