Russian search giant Yandex today reported its third quarter 2012 results, ended September 30, 2012. The company reported revenues of RUR 7.3 billion ($235.2 million), an up of 41% compared with third quarter 2011 while net income was of RUR 2.3 billion ($74.2 million), up 34% compared with third quarter 2011. The company further reported income from operations of RUR 2.5 billion ($82.3 million), up 43% compared with third quarter 2011. The operating margin was 35% while adjusted EBIDTA of RUR 3.4 billion ($111.3 million), up 47% compared with third quarter 2011.
“Q3 marked yet another strong quarter with our core contextual search business driving 41% top-line growth,” said Arkady Volozh, Chief Executive Officer of Yandex. “We launched our own browser, a milestone for the company. And I am pleased with the performance of our search product over the past few months as we maintained 60+% market share in Russia. Importantly, we recorded a noticeable improvement in the quality of our search and increased our share of searches across all major browsers and platforms.”