OREANDA-NEWS. (GLOBE NEWSWIRE) -- Yandex (Nasdaq:YNDX), one of Europe's largest internet companies and the leading search provider in Russia, today announced its unaudited financial results for the third quarter ended September 30, 2013.

Q3 2013 Financial Highlights

Revenues of RUR 10.2 billion (USD 315.9 million1), up 40% compared with Q3 2012, and up 43% compared with Q3 2012, excluding the impact of Yandex.Money
Ex-TAC revenues2 (excluding traffic acquisition costs) up 32% compared with Q3 2012, and up 35% compared with Q3 2012, excluding the impact of Yandex.Money
Income from operations of RUR 3.2 billion (USD 100.3 million), up 28% compared with Q3 2012
Adjusted EBITDA2 of RUR 4.4 billion (USD 136.4 million), up 28% compared with Q3 2012
Operating margin of 31.8%
Adjusted EBITDA margin2 of 43.2%
Adjustedex-TAC EBITDA margin2 of 55.4%
Net income of RUR 5.0 billion (USD 153.6 million), up 117% compared with Q3 2012
Adjusted net income2 of RUR 3.2 billion (USD 97.5 million), up 41% compared with Q3 2012
Net income margin of 48.6%
Adjusted net income margin2 of 30.9%
Adjusted ex-TAC net income margin2 of 39.6%
Cash, deposits and investments in debt securities of RUR 31.8 billion (USD 982.2 million) as of September 30, 2013
"Yandex delivered strong results in the third quarter of 2013, with text-based advertising revenues growing 43% year-over-year," said Arkady Volozh, Chief Executive Officer of Yandex. "Our partnership with Mail.ru on the paid search side is off to a very strong start, helping lift the revenue growth rate in our ad network to 82% year-over-year. A few weeks ago, we unveiled a new Cost Per Action model for merchants on Yandex.Market, which will allow consumers to complete their purchases on our site. And I am very pleased that our users can now search with Yandex directly in Safari, both on mobile and on the desktop."