Russia's Yandex eyes $6.5 billion annual revenue in 2022 after FY profit slip

FILE PHOTO: The logo of Russian internet group Yandex is pictured at the company's headquarter in Moscow, Russia October 4, 2018. REUTERS/Shamil Zhumatov/File Photo

MOSCOW (Reuters) - Russian internet giant Yandex on Tuesday reported a 55% decrease in adjusted net income in 2021 but said it expects total group revenues to continue their upward trajectory this year to reach 490-500 billion roubles ($6.50-$6.63 billion).

Yandex's adjusted net income stood at 8 billion roubles last year, down 55% on a like-for-like basis and now including its Yandex.Market e-commerce venture. The company said annual profit was impacted by investments into high-growth segments of the business, such as e-commerce and media services.