Yandex Q2 2015 Revenue Reaches $250M, Up 14% YoY
Russian's largest search engine says text-based advertising accounts for 91% of its total revenue.
Russian search engine Yandex released its earnings for Q2 2015, reporting a 14 percent year-over-year increase with revenue reaching $250.7 million (RUB 13.9 billion).
The largest search engine in Russia, Yandex’s search market share averaged 57.3 percent in Q2, with search queries up two percent compared to the same quarter last year.
“We remain focused on improving the quality of our search products, including mobile search, as well as our advertiser solutions,” said Yandex CEO Arkady Volozh in a release reporting the company’s quarterly earnings. He went on to say the company is planning to release a new auction mechanism in Q3 to help grow its online advertising business.
Yandex’s text-based ad revenue was up 13 percent over Q2 2014, accounting for 91 percent of Yandex’s total revenue. Display advertising revenue was up nine percent year-over-year and represented six percent of the company’s total revenue.
Yandex advertisers grew to 351,000 — a 9 percent increase over the first quarter of this year.