Russian search engine Yandex announced third quarter revenues this morning. The company saw strong growth for its overall business as well as for search-based advertising.
Yandex said that total revenues grew roughly 40 percent vs. 2012. The vast major of the company’s revenue comes from paid-search advertising (92 percent). Display ad revenue was the bulk of the remaining 8 percent.
Revenue from ads on Yandex sites grew by 33 percent vs. last year. That represented 69 percent of total revenue. Roughly 23 percent of revenue came from the company’s partner network. Those revenues grew by 82 percent vs. last year.
Overall Yandex paid clicks in the aggregate (O&O + partner network) increased 50 percent compared with last year. However like Google CPCs were down vs. a year ago. In Google’s case it was 8 percent. Yandex’s average CPC prices fell by 5 percent in the third quarter.
Display revenue grew 35 percent compared to a year ago. However it makes up less than 10 percent of Yandex’s overall revenue as indicated.
Yandex also operates a payments platform, Yandex.Money. It made a relatively tiny amount of revenue (0.1 percent) from commissions on processing payments.
Overall Yandex revenue for the third quarter was 10.1 billion RUR ($320 million approx) and for the first nine months of 2013 was 26.8 billion RUR ($847 million roughly).