Yandex beats in Q1 2014: $305 million in revenues, $75 million in net income (up 19% from last year)

Russian Internet search and services giant Yandex has just released its results for the first quarter of the year, reporting a 19 percent increase in net income compared to Q1 2013.

The company's profit rose to $75.1 million on revenues of $305 million, which is up 36% year-over-year.

The Moscow-headquartered company's share of the Russian search market averaged about 62% in Q1 2014, while Yandex's number of advertisers grew to more than 280,000, up 25% from Q1 2013.

“Yandex delivered strong quarterly revenue growth. We enjoyed growth in the number of advertisers, enhanced Yandex.Direct functionality for domestic and international clients and made several important launches on the mobile front.”

Also check Bloomberg and Reuters on the news.

_Featured image credit_: Abd allah Foteih / Flickr

Follow the developments in the technology world. What would you like us to deliver to you?
Your subscription registration has been successfully created.