Tag Archives: 2Russias

(Adds background, Kudrin detail) By Alexander Marrow MOSCOW, Dec 30 (Reuters) – The co-founder of Russian internet giant Yandex, Arkady Volozh, said goodbye in an internal message to staff on Friday ahead of a corporate restructuring that could see ownership of many of the firm’s core services change hands. Volozh stepped down as CEO and left the board of directors after the European Union included him on its list of sanctions against Russian entities and individuals in June. Volozh called the… Source link

(Adds quotes from call, analyst comment) By Alexander Marrow and Gleb Stolyarov MOSCOW, Feb 15 (Reuters) – Russian internet giant Yandex on Tuesday reported a sharp drop in adjusted annual net profit, but said total revenue could surge this year to around $6.5 billion, driven in part by high turnover growth in e-commerce. Yandex’s core advertising business, which accounted for 47% of total revenue in the fourth quarter of 2021, suffered during the early stages of the COVID-19 pandemic, but… Source link

(Releads on e-commerce investment) By Alexander Marrow MOSCOW, July 28 (Reuters) – Russian internet giant Yandex said on Wednesday it intends to spend around $650 million on e-commerce initiatives this year, more than previously planned, after reporting strong second-quarter results and upgrading its 2021 revenue forecast. Group revenue this year should now be between 330 and 340 billion roubles ($4.49-$4.63 billion), Yandex said, up from 315-330 billion roubles previously. Second-quarter… Source link