Russian search engine Yandex released its 2014 third quarter earnings report yesterday, announcing a 28 percent increase in year-over-year revenue for the quarter, generating more than $313 million (RUR 13.1 billion).
“Q3 was another strong quarter notable for an acceleration in growth of our owned and operated properties and excellent cost control,” said Yandex CEO Arkady Volozh in the news release announcing the company’s earnings.
According to the announcement, Yandex’s share of the Russian search market averaged 60.3 percent last quarter, and search queries were up 13 percent from third quarter of 2013. So far this year, the site has acquired advertising tech platform AdFox, completed the acquisition of Auto.ru, and launched Yandex.Master.
The company reports that 93 percent of its total revenue for Q3 was earned via text-based advertising – with 71 percent coming from its own websites and 21 percent from its ad network.
Yandex 2014 3Q Revenue Results
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