Yandex Reports Revenue Up 37% In Q4, Ad Network Revenue Nearly Doubles

yandex_eng_logo-360 (1)Russian search giant Yandex reported a strong Q4 2013 today, with overall revenue up 37 percent from Q4 2012 and continued growth in text-based advertising. Take away revenue from its payment platform, Yandex.Money, and the Y-o-Y revenue growth would be 40 percent.

The company says it now has more than 270,000 advertisers, a 30 percent gain year-over-year and up 10 percent from Q3 of 2013.

Yandex saw substantial growth in text-based ads on its ad network. That was up 94 percent from Q4 2012, and Yandex attributes the growth to its agreement to power paid search results on Mail.ru. Ad network revenues made up 23 percent of Yandex’s overall revenue during Q4.

Text-based ad revenue on Yandex’s own websites was up 30 percent Y-o-Y, and accounted for 66 percent of the company’s overall revenue.

Paid clicks on Yandex’s own websites and across its partner network were up 52 percent in Q4 compared to 2012.

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Using data from the LiveInternet service, Yandex also said its search market share in Russia averaged 62 percent in Q4.