Russian tech leader Yandex (NASDAQ:NBIS) announced on Tuesday a 34% increase in its adjusted net profit for the second quarter, reaching 30.4 billion roubles ($374.61 million), rebounding from a net loss in the previous quarter.
The company’s revenue rose 33% year-on-year to 332.5 billion roubles, largely fueled by strong performances in its e-commerce and fintech segments.
Adjusted EBITDA climbed 39% to 66 billion roubles during the quarter.
Since its separation from the Nasdaq-listed Dutch parent in 2024, Yandex revealed last year its intention to start paying dividends, marking a shift from its previous focus on reinvesting earnings for growth.
In 2024, Yandex distributed dividends of 80 roubles per share based on both half-year and full-year results. The company announced that its board will review a potential dividend of 80 roubles per share for the first half of 2025 at a meeting set for July 31.
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