MOSCOW, April 26 (Reuters) - Russian internet giant

Yandex ( YNDX ) reported a 40% rise in first-quarter revenue to 228.3

billion roubles ($2.47 billion), driven by growth in e-commerce

and ride-hailing, with the market awaiting news on a much

anticipated corporate spin-off.

Yandex's ( YNDX ) Nasdaq-listed and Dutch-registered parent, Yandex

NV ( YNDX ), in February struck a $5.2-billion deal after months

of negotiations to sell its assets in Russia at a heavily

discounted price due to Kremlin demands on foreign asset sales.

The first part of the deal's closing is imminent, according

to two people familiar with the matter.

Yandex's ( YNDX ) search and portal business and entertainment

services were also among the business lines to contribute to the

revenue rise, Yandex ( YNDX ) said.

Net profit for the quarter stood at 21.6 billion roubles,

while adjusted earnings before interest, tax, depreciation and

amortisation, reached 37.6 billion roubles.

Yandex ( YNDX ) has gained market share in Russia's online search and

advertising sector since Alphabet's Google stopped

selling online advertising in Russia in March 2022.

But since Russia's invasion of Ukraine, Yandex ( YNDX ) has had to

cut back in other ways as it looked to depoliticise its

business.

It sold its news feed and homepage to state-controlled rival

VK.

($1 = 92.3750 roubles)