The Russian Internet giant Yandex today announced its financial results for the first quarter ended March 31, 2013. The company reported the revenues of RUR 8 billion (about $257.3 million), up 36% compared with same quarter a year ago, while the income from operations for the quarter was RUR 2.5 billion ($78.9 million), up 57% compared with Q1 2012. Net income for the quarter was RUR 2.2 billion ($72.2 million), up 79% compared with Q1 2012 while adjusted net income was RUR 2.4 billion ($77.5 million), up 60% compared with Q1 2012.
“Yandex is off to an excellent start in 2013 with strong financial results and important product improvements,” said Arkady Volozh, Chief Executive Officer of Yandex. “During the quarter, we unveiled our newly redesigned homepage, updated our Yandex.Navigator and Yandex.Market mobile apps, and released a number of innovations aimed at enhancing our advertiser solutions.”