INSUBCONTINENT EXCLUSIVE:
Russian tech giant Yandex revealed on Wednesday that its earnings climbed up 46% in 2015 following a business restructuring amid unmatched
Western sanctions over Moscows offensive in Ukraine.Often dubbed Russias Google , Yandex is the countrys top internet company and most
popular online search engine
The company likewise offers taxi and food delivery services.Yandex stated its profits for 2022 stood at 521.7 billion rubles ($7 billion),
while its net earnings reached 10.8 billion rubles, a 34% increase on the previous year
The business reported the jump in earnings despite multiple rounds of unprecedented sanctions against Russia
Current geopolitical stress and their influence on the Russian and global economy have created an extremely challenging environment for our
business, team and shareholders, Yandex stated
Yandexs e-commerce sector, which includes food shipment services, carried out especially well, the business said.According to Yandex, the
variety of customers to its Yandex Plus services, such as motion picture and music memberships, reached 19.3 million by the end of last
year, compared to 11.6 million at the end of the previous year.The Russian federal government is sealing its control over Yandex after
months of instability at the web business, with employees fleeing since of the military offensive in Ukraine.Last year, the company launched
a corporate restructuring after among the groups co-founders, Arkady Volozh, was among the Russian executives struck with EU sanctions.In
December, Kremlin ally Alexei Kudrin stated he was signing up with Yandex as a business advancement adviser to manage operations at the
restructured business, while Volozh announced he would be developing a number of Yandex organizations outside Russia.
