Today Yandex, the Russian Internet search giant which is listed on the NASDAQ, announced its unaudited financial results for the fourth quarter and the full year ended December 31, 2015.
The key financial indicators (1)(2) look as follows:
Yandex financial results Q4 and FY 2015
Commenting on the FY 2015 results, CEO Arkady Volozh stated: “I am very proud of our accomplishments in 2015. In the face of economic headwinds and a highly competitive environment, we managed to stabilize our market share, improve product quality, significantly increase the size of our web index, and introduce a sophisticated new auction model that is already having a material impact on monetization.”
“Q4 was an excellent quarter in which we delivered strong top line growth at 23% year-over-year and served a record number of advertisers,” said COO Alexander Shulgin. “We continued to broaden our business beyond search with the creation of three new business units – Yandex.Taxi, Auto.ru, and Yandex.Market – in which we will invest aggressively to accelerate growth in 2016.”
According to LiveInternet, Yandex’s share of the Russian search market (including mobile) averaged 57.3% in Q4 2015 compared to 57.1% in Q3 2015. Search queries in Russia grew 5% compared with Q4 2014. The number of advertisers increased to 394,000, up 24% from Q4 2014 and up 11% from Q3 2015.
Yandex launched such innovative services as “hyper-local weather forecasting” and an “automated information agency.”
Yandex also agreed with Microsoft to deliver Windows 10 with Yandex search in Russia, Ukraine, Turkey and several other countries.
However, the company failed in its attempt to launch an online video streaming offer on KinoPoisk, the movie and TV recommendation service it acquired in 2013.
Notes
- Pursuant to SEC rules regarding convenience translations, Russian ruble (RUB) amounts have been translated into U.S. dollars at a rate of RUB 72.8827 to $1.00, the official exchange rate quoted as of December 31, 2015 by the Central Bank of the Russian Federation.
- These measures are “non-GAAP financial measures.”
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