Yandex, the parent company for No.1 Russia-based automotive vertical Auto.ru, No.2 Russia-based real estate vertical Yandex.Realty and recruitment aggregator Yandex.Jobs, saw a reduction in classifieds earnings in Q3.
Between July and Sept., Yandex classifieds’ adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) was RUB 43 million ($670,000 U.S.), 45% less than 2018. However, during the first nine months of the year, the classifieds demonstrated better results This year, with an adjusted EBITDA of RUB 165 million (compared to RUB 20 million in 2018).
At the same time, the classifieds’ revenue for Q3 grew from RUB 988 million ($15 million U.S.) to RUB 1.4 billion ($21 million U.S.). During the first three quarters, classifieds revenue was 45% more than in 2018, reaching RUB 3.8 billion ($59 million U.S.).