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Russian internet group Yandex reports $110 million net loss in Q1
Abstract：(Reuters) – Russian internet group Yandex on Wednesday reported an adjusted net loss of 8.1 billion roubles ($110 million) in the first quarter of this year, a week after withdrawing its 2022 financial guidance.
Reuters – Russian internet group Yandex on Wednesday reported an adjusted net loss of 8.1 billion roubles 110 million in the first quarter of this year, a week after withdrawing its 2022 financial guidance.
Yandex itself has not been targeted with western sanctions over Russias actions in Ukraine, but the Nasdaqlisted firm has faced a range of issues in the past few weeks, from senior management changes to European Union criticism and concerns over servicing its debt.
Yandex said the net loss was primarily due to investments in its businesses in the first two months of the year.
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