Yandex First Quarter 2012 Financial Results

Yandex, the largest search engine for Russia, released their first quarter financial results for 2012 today, and so far, things are looking really good. Revenue more than 50% from the same quarter last year to $ 200.3 million. Operating profit also nearly 23% when compared with last year.

Their net income came in nearly $, 43 million which is a staggering 53% increase from the previous year. It was absolutely amazing. While it seems almost all aspects of business done better than they did last year, there are many factors that come into play.

The number of search advertisers jumped 40% to nearly 180,000. Average daily visitors increased from 200,000 in January to nearly double by the end of March. They apply in real time bidding and partnering with Twitter search results. They mostly navigator Yandex launches iOS and Android.

Arkady Volozh, Chief Executive Officer comments Yandex quarter results:

“Yandex has produced another strong quarter with solid growth, highlighted by very strong results as well as the contextual advertising market leadership continues and share searches,”

“We will continue to focus on our core search product, focusing on integrating social media and increase the freshness of our results to improve the user experience. We launched an important new map-based web services server and development presence in the spectrum of mobile devices. ‘

Yandex currently controls about 69% of the Russian search market, but the latest developments in online advertising and the addition of mobile search capabilities, they are growing rapidly. Investors should keep a close eye on this company in 2012 revealed.