Yandex, the NASDAQ-listed Russian search giant, announced its quarterly earnings, demonstrating an impressive growth.
Thus, in Q3 2018, the company’s revenues jumped to RUR 32.6 bln ($496.6 mio), up 39% compared with Q3 2017, while its net income reached RUR 4.8 bln ($72.7 mio) a whopping 459% increase year-on-year (net income margin: 14.6%; adjusted net income RUR 6.1 bln or $93.0 mio, up 157%, margin 18.7%).
An interesting disclosure from the earnings call was that the company now has 27 offices in nine countries, reports Russian Search Marketing, an online publication supported by Yandex.
Thus, Yandex has offices in China, Germany, Switzerland and the USA, as well as some republics of the former Soviet Union, among other locations. Local companies may thus find assistance to do business in Russia, in particular in terms of advertising.
With nearly 10,000 employees worldwide, Yandex is widely seen as one of the few example of a global digital success story from Russia.
This story initially appeared in East-West Digital News, an international news resource covering the Russian innovation scene.