Russian internet firm Yandex reported over 1 trillion roubles (US$11.22 billion) in revenue for 2024, a 37% increase year-over-year.

The company expects at least 30% growth in 2025.

The announcement follows a US$5.4 billion sale of its Russia-based assets to local buyers in July 2024, marking one of the largest corporate exits since Russia’s invasion of Ukraine.

Despite the changes, Yandex remains a major player in Russia’s search and advertising markets.

It also operates ride-hailing services in parts of Africa and Europe, but has restricted access in the US.

Under new ownership, it plans to pay dividends for the first time, proposing 80 roubles (US$0.91) per share.