Russian internet search engine Yandex said revenues grew by 22 percent year-on-year to RUB 22.1 billion in the fourth quarter. The net profit declined by 57 percent to RUB 1.2 billion. The adjusted net profit was RUB 3.2 billion, down by 11 percent. Adjusted EBITDA totaled RUB 6.7 billion, up by 2 percent while the adjusted EBITDA margin was 30.3 percent.
The company's share of Russian search market, including mobile, averaged 55.4 percent in the fourth quarter compared to 55.9 percent in the third quarter, according to LiveInternet. The number of search queries in Russia grew by 3 percent year-on-year.
