Yandex, the NASDAQ-listed Russian search giant, announced yesterday its financial results for the fourth quarter and the full year that ended December 31, 2013: the company’s revenue jumped to 39.5 billion rubles ($1.2069 billion), up 37% from the previous year.
On a like-for-like basis, the year-on-year growth actually attained 39% when tallied without Yandex.Money, the virtual currency of which Yandex lost control in late 2012.
Yandex maintained its traffic leadership over Google, with its share of the Russian search market (including mobile) estimated at 61.9% in Q4 2013, according to LiveInternet.
As in previous years, Yandex got almost all its revenue from advertising (38.85 billion rubles, or $1.1869 billion), of which text-based advertising accounted for more than 91%.
Yandex dominates the Russian context ad market, with a share approaching two thirds. The company had more than 270,000 advertisers in Q4 2013, up 10% from Q3 2013 and 30% from Q4 2012.
In 2014, as the advertising market continues to inflate due to high investment volumes by brands and e-commerce sites, Yandex expects to achieve growth of 25% to 30% for the year.
