Yandex Announces Impressive Q2 Results

Yandex has shown positive growth in its second quarter financial results for 2016.The Russian search company has reported revenues of 280 million US dollars, up 30% since last year, as well as net earnings of nearly 61 million US dollars, also up on their second quarter results last year, this time by 40%.Arkady Volozh [Volosh], CEO of Yandex, noted that the strong growth had had “notable contributions from the Taxi, Market, and Classifieds business units”, whilst also hinting at the steps towards in “data analysis and AI” it might make in the future, to fuel advances in ad targeting.Yandex also saw a 7% growth in all search queries in Russia compared to last year, and a 0.6% increase in its share of the market in the country.The positive results from the quarter are in part due to its success seen across the board in advertising revenue, including an increase of 24% solely from advertisements on Yandex's own website.