Consolidated revenue “Yandex” in 2021 under US GAAP increased by 54% to 356.2 billion rubles, writes “Prime” with reference to the message of the Internet company.

“Total revenue in 2021 grew by 54% year-on-year to RUB 356.2 bln in 2020. This is higher than the analysts’ forecast of RUB 351 bln,” the report said.

The share of non-advertising revenue in 2021 amounted to 53% of Yandex’s total revenue. Advertising revenue for the year increased by 27% year-on-year to RUB 166.6 bln in 2020. Adjusted net profit for 2021 decreased by 55% year-on-year to 8 billion rubles.

“In particular, the indicator was affected by investments in fast-growing business segments (e-commerce and media services, for example),” Yandex explained.

Adjusted EBITDA decreased by 29% and amounted to 32.1 billion rubles. Shares of “Yandex” strengthened growth to 7.5% after the company published financial statements and forecasts.