Russia's Yandex reports full-year revenue jump, spin-off in focus

Reuters02-15

MOSCOW, Feb 15 (Reuters) - Russian search engine giant Yandex on Thursday reported a 53% jump in full-year revenue to 800.1 billion roubles ($8.72 billion), driven by organic growth across the business, from search and advertising to e-commerce and ride-hailing.

Yandex's Nasdaq-listed and Dutch-registered parent, Yandex NV, last week agreed to spin off some assets in a cash and shares deal worth $5.2 billion, a far cry from the company's value before Moscow sent its army into Ukraine in February 2022.

($1 = 91.7700 roubles)

(Reporting by Gleb Stolyarov and Alexander Marrow Editing by David Goodman )

((alexander.marrow@thomsonreuters.com;))

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Yandex's Nasdaq-listed and Dutch-registered parent, Yandex NV, last week agreed to spin off some assets in a cash and shares deal worth $5.2 billion, a far cry from the company's value before Moscow sent its army into Ukraine in February 2022.    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