Quarterly profit of Yandex has almost tripled

[Len]

The company "Yandex" released financial results for the last quarter and 2017 as a whole: the key performance indicators of the Russian IT giant have grown significantly.

Consolidated quarterly revenue increased by an annualized rate of 26% - to 27.9 billion rubles ($ 483.7 million). At the same time, net profit jumped almost threefold - from 1.2 billion rubles to 3.5 billion rubles ($ 60.8 million).

The annual income of Yandex increased by a quarter, reaching 94.1 billion rubles. Net profit amounted to 8.7 billion rubles, which is 28% more than in 2016.

The company's share in the Russian search market (including search on mobile devices) in the fourth quarter of 2017 averaged 56.5%, reaching 56.7% in December, while in the third quarter of 2017 it was 54.9% (according to data analytical service "Yandeks.Radar").

In Russia, the share of search queries for "Yandex" on Android-based devices was 45.0% last quarter, while a year ago this figure was 37.0%.

It is also noted that the number of search requests increased by 9% compared to the same indicator for the fourth quarter of 2016.

Revenues from the sale of Internet advertising grew by 19% compared to the same indicator for the fourth quarter of 2016. In the structure of the total revenue of Yandex, it is 90% and remains the company's main source of revenue.