Today, Russian search giant, Yandex released its Q1 2015 earnings, and reported $211.1 million (RUR 12.3 billion) in revenue for the first three months of 2015.
Yandex CEO Arkady Volozh had this to say in a news release listing the company’s financials, “Despite a challenging macroeconomic environment, we delivered good top-line performance with text-based advertising on our own sites growing 14%,” 68 percent of the total revenue came from text-based ad revenues.
Aside from the text-based ad revenue that Yandex received, here is the individual earnings during the Q1 2015:
- 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.
There has been a decline in the Yandex display advertising revenue, as reported by Yandex themselves, which is down 16 percent from Q1 2014.