Russian search giant Yandex released its Q1 2015 earnings today, reporting $211.1 million (RUR 12.3 billion) in revenue for the first three months of this year.
“Despite a challenging macroeconomic environment, we delivered good top-line performance with text-based advertising on our own sites growing 14%,” said Yandex CEO Arkady Volozh in a news release listing the company’s financials. Text-based ad revenues from Yandex websites represented 68 percent of total revenue.
Beyond the text-based ad revenues from Yandex websites, individual revenue earnings during Q1 2015 are as follows:
Total text-based advertising revenues are up 14% year-over-year, and account for 93 percent of all revenue.
Text-based advertising revenues from Yandex’s ad network grew 13 percent year-over-year, making up 25 percent of total revenue.
Yandex paid clicks grew 12 percent, with an average cost per click up two percent year-over-year.
Yandex reported a decline it its display advertising revenue, down 16 percent from Q1 2014. The drop resulted in display advertising representing only five percent of total revenue in Q1 2015, compared to seven percent during the first quarter of last year.
Yandex Q1 2015 Earnings Report
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