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Yandex net income amounted $74.2 million in Q3
30.10.2012 16:43
Yandex net income amounted $74.2 million in Q3

Yandex, the leading internet company in Russia, operating the country's most popular search engine and most visited website, today announced its unaudited financial results for the quarter ended September 30, 2012.

In the third quarter 2012 the company’s revenues has increased 41% to 7.3 billion Rubles (235.2 million) in comparison with the same period of 2011, informs the company in its official press-release. The net income has grown 34% to 2.3 billion Rubles ($74.2 million), compared with the third quarter 2011.

"Q3 marked yet another strong quarter with our core contextual search business driving 41% top-line growth," said Arkady Volozh, Chief Executive Officer of Yandex. "We launched our own browser, a milestone for the company. And I am pleased with the performance of our search product over the past few months as we maintained 60+% market share in Russia. Importantly, we recorded a noticeable improvement in the quality of our search and increased our share of searches across all major browsers and platforms."

Among Yandex 2012 operating highlights are:

-Share of Russian search market (including mobile) averaged 60.5% in Q3 2012 (according to LiveInternet)

-Search queries grew 31% from Q3 2011

-Number of advertisers — more than 202,000, up 28% from Q3 2011 and up 5% from Q2 2012

-Launched Yandex Browser

-Expanded Yandex.Market to include the lucrative apparel segment of the fast growing e-commerce market.

Author: Irina Fomina

Tags: Russian business IT Yandex Russian internet  

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