Russia’s leading search engine Yandex announced its revenue results for 3Q 2015 yesterday, reporting an 18 percent year-over-year quarterly increase at $233.1 million – or 15.4 billion rubles.
Yandex said its share of the Russian search market averaged 57.1 percent for the quarter ending September 30, 2015, with search queries up four percent compared to the same time last year.
The site grew its advertiser base to 354,000 – an 18 percent jump over Q3 2014 and one percent increase over the previous quarter.
“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,” said CEO Arkady Volozh in a statement announcing the company’s earnings.
Yandex.direct, the company’s auction-based ad program, switched to the new VCG auction platform during the quarter as well.
“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,” said Yandex Chief Operating Officer Alexander Shulgin.
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