Оne of Europe’s largest internet companies and the leading search provider in Russia, Yandex, has announced that its revenue in the first quarter of the year grew 40% year-on-year, Vedomosti reports.
The company’s unaudited financial results for the first quarter also show a 36% adjusted net income compared with Q1 2018, the newspaper writes.
Yandex has increased market forecast for revenue growth in 2019 to 30-34%. The company’s Q1 advertising revenue increased by 25%, while the share of non-advertising revenue increased to 27% (in the IV quarter it was 24%).
Revenue in the Search and Portal segment grew by 26% to 27.1 billion rubles, and the segment still brings the majority of the company’s revenue.
The search share of Yandex has grown to 57%, in the same period last year it was 56.5%, according to Yandex.Radar. The search share of Yandex on Android in Russia increased to 51.2% – from 46.3% – in the first quarter of last year.
Yandex. Taxi‘s revenue in the first quarter grew by 145% to 7.6 billion rubles ($117 million), and the business now accounts for 20% of Yandex’s total revenue. The revenue of media services increased by 74% to 734 million rubles ($11.3 million).
Revenue from ad services grew by 57% to 1.1 billion rubles, while revenue from other areas and experiments grew by 218% to 2.4 billion rubles ($37 million), the company said.
