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Yandex Second Quarter 2011 Results Show Strong Growth

Files under: News
Posted by: admin @ 06:41 [28. 07. 11]

Today, the leading Russian search engine company Yandex (NASDAQ: YNDX) announced its unaudited financial results for the second quarter of 2011 ended June 30, 2011. Yandex completed $1.3 billion IPO on NASDAQ in May 2011.

In Q2 2011, Yandex reported revenues of RUR 4,541 million ($161.7 million), up 57% from Q2 2010, operating income of RUR 1,378 million ($49.1 million), up 20% from Q2 2010, and net income of RUR 1,125 million ($40.1 million), up 11% from Q2 2010. Yandex operating margin was 30% and net income margin was 25% in Q2 2011.

The Yandex revenue split in Q2 2011 is as follows: text-based advertising on Yandex websites (75%), text-based advertising on Yandex ad network (13%), display advertising (10%), and online payments comissions (2%).

For six months ended June 30, 2011, Yandex reported revenues of RUR 8,435 million, up 61% from H1 2010, operating income of RUR 2,650 million, up 44% from H1 2010, and net income of RUR 1,945 million, up 28% from H1 2010.

Yandex search market share in Russia was 64.6% for Q2 2011 (according to LiveInternet). Yandex number of advertisers was more than 144,000, up 41% from Q2 2010 and up 13% from Q1 2011.

In June 2011, Yandex began powering search and search-related advertising on Rambler.ru, a leading Russian online portal.

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