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Yandex reports a 30% YoY increase in revenue at $280.7M for Q2 2016
"Our expertise in data analysis and AI is fueling advances in ad targeting and driving the adoption of personalized products," says CEO.
Yandex announced $280.7 million (RUB 18.0 billion) in revenue for Q2 2016, a 30-percent increase compared to Q2 2015.
Russia’s largest search engine didn’t see much change in its search market share between the first and second quarters of this year, averaging 57.6 percent in Q1 and 57.0 percent in Q2. Yandex did see a seven-percent jump in search queries year over year when comparing Q2 2016 to Q2 2015.
“Our expertise in data analysis and AI is fueling advances in ad targeting and driving the adoption of personalized products, such as Yandex Zen, by users in Russia and abroad,” said Yandex CEO Arkady Volozh. Zen is the personalized content recommendation tool integrated into the Yandex browser, launched in June.
According to the following chart, Yandex’s total online ad revenue for Q2 grew 28 percent year over year.
Yandex 2Q 2016 online ad revenues
Yandex COO Alexander Shulgin commented on the company’s legal case against Google in connection to its mobile efforts.
“Our focus on mobile resulted in significant improvements in mobile monetization, and Yandex share on Android devices started to grow again in late June as a result of new distribution deals following the favorable FAS ruling in our case against Google,” said Shulgin.