The heart of tech

This article was published on October 30, 2012


    Yandex’s Q3 2012: Revenues up 43% year-on-year to $235.2m, profit up 34% to $74.2m

    Yandex’s Q3 2012: Revenues up 43% year-on-year to $235.2m, profit up 34% to $74.2m Image by: Anatoly Abyshev
    Martin Bryant
    Story by

    Martin Bryant

    Founder

    Martin Bryant is founder of Big Revolution, where he helps tech companies refine their proposition and positioning, and develops high-qualit Martin Bryant is founder of Big Revolution, where he helps tech companies refine their proposition and positioning, and develops high-quality, compelling content for them. He previously served in several roles at TNW, including Editor-in-Chief. He left the company in April 2016 for pastures new.

    Russian Internet giant Yandex has seen revenues rise by 41% year-on-year in its unaudited Q3 2012 financial results, just released.

    The Moscow-based company is reporting revenues of RUR 7.3 billion ($235.2 million), up 41% compared with the same quarter last year. Income from operations is up 43% year-on-year, at $82.3 million. Profit for Q3 is RUR 2.3 billion ($74.2 million), up year-on-year.

    It’s been a big quarter for Yandex. Among other announcements, the company has notably launched its own browser, further diversifying its portfolio of services. The company, often referred to as “the Russian Google,” even opened its own alternative Android store this month and expanded its Google Drive-style Yandex.Disk service. Just like its Californian rival, the term “Search giant” doesn’t quite do Yandex justice.

    Still, the results represent a slowing in growth from last quarter, where Yandex reported a 50 percent increase in revenue, year-on-year, and an increase in profit of 76 percent compared with Q2 2011.

    Image credit: iStockPhoto / Thinkstock