Russian search engine Yandex reported that "their year-over-year (YoY) revenue increased by 43%, reaching 12.5 billion rubles ($410 million). Contextual advertising was Yandex's top source of revenue last year, accounting for 88% of its profits. Revenue from contextual ads grew 45% YoY and the number of advertisers increased by more than 40%, totaling more than 180,000."
Overall, the Russian ad market increased by 14% and the online advertising market grew by 37% for the first nine months of 2010, according to the Russian Association of Communication Agencies.
Yandex also increased its share of the Russian search market in Dec'2010, growing to 64.1%, up from 58.9%. The company also increased its share in the Ukrainian and Kazakhstan markets, to 27% and 24.4% respectively, according to LiveInternet figures.
ComScore also reported that Yandex's monthly audience grew by 64% from Nov'2009 to Nov'2010, and peaked at more than 54 million this past November.
[tags]yandex,web search,internet search,market share,russia,contextual ads[/tags]