Yandex sees 2017 revenue rising

Yandex announced unaudited financial results for the third quarter of 2017, which show that consolidated revenue increased by 21% compared to the same period in the previous year and reached 23.4 billion rubles. The net profit amounted to 0.9 billion rubles, which is 65% less than in the third quarter of 2016. The online advertising revenue increased by 19% and it remains the main source of the company’s income, occupying 93% of the total income.

In the third quarter of the current year, the company’s share in the Russian search market (including mobile search) almost reached 55%. The number of search queries grew by 7% compared to the same period last year. In particular, on 1-22 October 2017 the number of search queries sent from Android devices amounted to 43.9%. According to Yandex.Radar analytical service data, in the third quarter of this year, 41.2% of search queries from Android smartphones were processed by Yandex. In general, in the last three years, the share of Yandex on Android devices reached its peak. The number of paid clicks on Yandex and the sites of the Yandex advertising network grew by 6%, and an average cost per click increased by 12% compared to the similar indicator in the third quarter of 2016.