Investing.com -- Yandex (NASDAQ: NBIS ), the Russian internet giant, has reported a 34% increase in its first-quarter revenue, which reached 306.5 billion roubles ($3.71 billion).

This surge is attributed to the growth in the company’s e-commerce sector and its search and portal business.

The company’s adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) also saw a rise, increasing by 30% to 48.9 billion roubles.

Additionally, Yandex announced that its adjusted net profit reached 12.8 billion roubles.

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