Net profit of “Yandex” has fallen by 75 percent

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www.vsyako.netPhoto: Valeriy Melnikov / RIA Novosti

Net profit of “Yandex” has fallen 75 percent in 2019. This follows from the financial results for last year released by the company.

As reported in “Yandex”, its net profit amounted to 11.2 billion rubles (180,9 million dollars). The company’s consolidated revenues for the year increased 37 percent to 175,4 billion (2833,2 million dollars).

In the fourth quarter of last year net profit amounted to 0.3 billion rubles ($4.5 million) and fell by 95 percent compared to the same period of 2018. Consolidated revenue grew compared with the fourth quarter of the previous year, 33 percent, to 51.7 billion rubles (835,1 million dollars).

In October-December 2019 the share of “Yandex” on the Russian search market (including search on mobile devices) amounted to an average of 57.5%, an increase of 1 percent compared with the fourth quarter of 2018.

Video, photo All from Russia.

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