Yandex has released its financial results for the first quarter of 2025, reporting a 34% increase in revenue compared to the same period in 2024. The company’s total revenue reached RUB 306.5 billion.
Adjusted EBITDA for the quarter was RUB 48.9 billion, up 30% year-on-year. This accounted for 16% of the total revenue.
Strong Growth Across All Segments
Yandex’s share of the Russian search market grew by 2.7 percentage points to 67.2%, according to Yandex Radar. The number of search queries rose 9.9% year-on-year.
The Search and Portal segment, which includes services like Search, Geoservices, and Browser, saw a 21% increase in revenue. It brought in RUB 113.7 billion for the quarter.
City Services, which covers E-Commerce, Ridetech, and Delivery, grew 45% to RUB 177.6 billion. E-Commerce was the main driver, with revenue jumping 60% year-on-year.
The Plus and Entertainment Services segment grew by 58%, reaching RUB 32.5 billion in revenue. This segment includes Yandex Plus, Kinopoisk, Yandex Music, and Plus Studio.
Direct ticket sales through Yandex Afisha rose 79% year-on-year, with turnover hitting RUB 11.9 billion. Ticket sales through partner sites also increased by 50%, reaching RUB 3.2 billion.
The Yandex Plus subscriber base grew by 26%, hitting 41.3 million users.
Revenue from Classifieds Services, including Avto.ru and Yandex Real Estate, rose 35% to RUB 9.3 billion.
Other Business Units and Initiatives, which includes autonomous transport, Yandex Cloud, Devices, and Fintech, saw a 57% rise in revenue to RUB 35.9 billion.
Full-Year Forecast Remains Unchanged
Yandex is maintaining its full-year 2025 forecast. The company expects revenue growth of over 30% and adjusted EBITDA of at least RUB 250 billion.
This outlook is based on current market trends but may be revised depending on economic conditions.
In February, Yandex reported total 2024 revenue of over RUB 1 trillion.
