Finance
Russia's Yandex reports net loss of $130.5 million
Published by Global Banking & Finance Review®
Posted on April 25, 2025
2 min readLast updated: January 24, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on April 25, 2025
2 min readLast updated: January 24, 2026
Yandex reports a $130.5 million net loss in Q1, impacted by high stock compensation expenses. Despite this, revenue grew by 34% year-on-year.
MOSCOW (Reuters) -Russian internet giant Yandex swung to a first-quarter net loss of 10.8 billion roubles ($130.5 million), against a net profit of 20.1 billion roubles a year earlier, partly due to high expenses relating to its staff stock compensation programme.
A Russian consortium of buyers in July finalised a $5.4 billion cash-and-stock deal to acquire Yandex's Russia-based assets.
Yandex has spent 16.5 billion roubles on its stock-based compensation programme in the first quarter, the report shows.
Adjusted earnings before interest, tax, depreciation and amortisation, were up by 30% to 48.9 billion roubles, while adjusted net profit reached 12.8 billion roubles, it said. Adjusted net income refers to the net loss before SBC (Stock Based Compensation) expenses, one-off restructuring costs, and foreign exchange losses, Yandex added.
Revenue increased by 34% year on year to 306.5 billion roubles ($3.71 billion), driven by growth in e-commerce and its search and portal business, Yandex said.
The company maintained its forecast for the group's total revenue growth in 2025, which is expected to be more than 30% year–on- year, and adjusted EBITDA of at least 250 billion rubles, it added.
($1 = 82.7500 roubles)
(Reporting by Gleb Stolyarov; Writing by Anastasia TeterevlevaEditing by Andrew Osborn and David Evans)
The main topic is Yandex's financial performance, highlighting a net loss of $130.5 million in the first quarter due to high stock compensation expenses.
Yandex's net loss was partly due to high expenses related to its stock-based compensation program.
Yandex's revenue increased by 34% year-on-year, driven by growth in e-commerce and its search and portal business.
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