The Russian equivalent to Google, Yandex, has announced its revenue results for 3Q 2015 yesterday, and we found out that the search engine has seen an 18 percent YoY quarterly increase at 15.4 billion rubles, or $233.1 million.
In the Russion search market, Yandex has averaged 57.1 percent for the quarter ending September 30, 2015, with search queries up four percent compared to the same time last year.
Yandex’s advertiser base grew to 354,000, which is an 18 percent jump over their 3Q 2014. This is also a one percent increase over the previous quarter.
Yandex CEO, Arkady Volozh said in a statement announcing the company’s earnings:
“We stabilized our search share in Russia, became the default search engine for Windows 10 in Russia, Turkey, and several other countries, and achieved a historic decision from the Russian anti-monopoly service that we hope will return fair competition to the market.”
Also, Yandex.direct, which is the company’s auction-based ad program, switched over to the new VCG auction platform during the quarter as well.
Yandex’s Chief Operating Officer, Alexander Shulgin said:
“We smoothly transitioned to the VCG auction, leading to lower CPCs for our advertisers, higher quality traffic to their websites and an increase in click through rates.”