Yandex.Verticals, which includes car vertical, recruitment vertical Yandex.Jobs and real estate vertical Yandex.Realty, announced its financial results for Q1 2022.

Yandex.Verticals increased its revenue by 22% compared to the corresponding period in 2021. Growth was driven primarily by an increase in revenue from a list of car dealers, which grew by more than 140% year-over-year due to the company’s continuous improvement of monetization strategies, including the continued development of technology-related businesses and products like search, advertising, self-driving vehicles and cloud computing; and transactional services, including ride-hailing, e-commerce, video/audio services and streaming.

Adjusted EBITDA decreased by 28% in Q1 2022 compared to Q1 2021, mainly due to the impact of one-off personnel expenses and selective headcount growth in the fast-growing Yandex.Rent service, as well as pre-agreed marketing expenses.

The goal of this spending was to expand the end-to-end value proposition for both customers and consumers, as well as overall enhancement of the classifieds’ offerings during an exceptionally challenging time for the company due to current geopolitical tensions and their impact on the Russian and global economy.

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