Russia's Yandex reports Q1 revenue rise as market awaits spin-off news
The Star Online - Tech·2024-04-26 19:00
MOSCOW (Reuters) - Russian internet giant Yandex reported a 40% rise in first-quarter revenue to 228.3 billion roubles ($2.47 billion), driven by growth in e-commerce and ride-hailing, with the market awaiting news on a much anticipated corporate spin-off.
Yandex's Nasdaq-listed and Dutch-registered parent, Yandex NV, in February struck a $5.2-billion deal after months of negotiations to sell its assets in Russia at a heavily discounted price due to Kremlin demands on foreign asset sales.
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