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Yandex Yandex Announces First Quarter 2021 Financial Results MOSCOW and AMSTERDAM , the Netherlands , April 28 , 2021 -- Yandex ( NASDAQ and MOEX : YNDX ) , one of Europe's largest internet companies and the leading search and ride - hailing provider in Russia , today announced its unaudited financial results for the first quarter ended March 31 , 2021 . Q1 2021 Financial and Operational Highlights 1,2 In RUB millions Three months ended March 31 , 2020 2021 Change Total Group on a like - for - like basis including Yandex.Market Total Revenues 52,429 73,136 39 % Online Ad Revenues 32,082 35,996 12 % Online Ad Revenues Ex - TAC 26,535 30,595 15 % Total Adjusted EBITDA 9,954 10,426 5 % Total Adjusted EBITDA margin , % 19.0 % 14.3 % -4.7 % in 2020 Net income / ( loss ) 3,954 ( 4,256 ) n / m Adjusted Net Income 3,873 2,203 -43 % Share of Russian search market , % 58.1 % 60.0 % 1.9 % Search share on Android , % 55.5 % 59.3 % 3.8 % Search and Portal³ Revenues 30,536 35,145 15 % Revenues Ex - TAC 24,613 28,816 17 % Adjusted EBITDA 14,764 16,364 11 % Adjusted EBITDA margin , % 48.3 % 46.6 % -1.7 % Revenues 14,021 26,563 89 % Rides YoY growth in the Ride - hailing service ( excl . 40 % 24 % Logistics ) , % GMV YoY growth of Ride - hailing ( excl . Logistics ) , 30 % 44 % % Taxi GMV YoY growth of Yandex.Eats , % 28 % 147 % Adjusted EBITDA ( incl . Ride - hailing , FoodTech , Drive and Logistics ) ( 121 ) 3,741 n / m Adjusted EBITDA margin , % -0.9 % 14.1 % 15 % Yandex.Market marketplace GMV4 7,828 17,668 126 % Yandex.Market Total E - Commerce GMV5 8,637 24,711 186 % Yandex.Market Adjusted EBITDA ( 2,193 ) ( 6,488 ) 196 % Media Services Zen Yandex Plus subscribers , MM Zen DAU , MM 3.7 9.0 141 % 15.2 20.5 35 % Share of video as % of time spent on Zen 6 % 25 % 19 % ( 1 ) Pursuant to SEC rules regarding convenience translations , Russian ruble ( RUB ) amounts have been translated into U.S. dollars at a rate of RUB 75.7023 to $ 1.00 , the official exchange rate quoted as of March 31 , 2021 by the Central Bank of the Russian Federation . ( 2 ) The following measures presented in this release are " non - GAAP financial measures " : ex - TAC revenues , adjusted EBITDA , adjusted EBITDA margin , adjusted ex - TAC EBITDA margin , adjusted net income , adjusted net income margin , adjusted ex - TAC net income margin , financial results on a like - for - like basis including Yandex.Market and online advertising revenues on a like - for - like basis including revenues of Yandex.Market . Please see the section " Use of Non - GAAP Financial Measures " below for a discussion of how we define these measures , as well as reconciliations at the end of this release of each of these measures to the most directly comparable U.S. GAAP measures . ( 3 ) In Q1 2021 we introduced changes to our segment structure . Please see more details below in Segments financial results . ( 4 ) GMV is value of delivered ( and settled by customers ) orders recognized on the date of delivery at their final prices , including VAT . ( 5 ) E - Commerce GMV is defined as the value of all merchandise sold through our Yandex.Market marketplace and Yandex . Lavka as well as the value of grocery products sold through Yandex.Eats ( delivered and paid for ) to customers including VAT . 1