Yandex (YNDX) has released an update.
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Yandex N.V., soon to be Nebius Group, reported Q2 2024 financials with a substantial 430% revenue increase compared to last year’s quarter and a net loss reduction by 47%. The company’s AI-centric cloud platform, Nebius AI, significantly boosted its revenue with a 60% quarter-over-quarter growth, attributing to expanded GPU capacity and a diversified client base. Additional ventures like Toloka AI and TripleTen show promising growth, while the edtech arm was named the best overall software engineering bootcamp by Fortune magazine.
For further insights into YNDX stock, check out TipRanks’ Stock Analysis page.
