1 Pursuant to SEC rules regarding convenience translations, Russian ruble (RUR) amounts have been translated into U.S. dollars at a rate of RUR 31.0834 to $1.00, the official exchange rate quoted as of March 31, 2013 by the Central Bank of the Russian Federation.
2 This is a non-GAAP financial measure. Please see "Use of Non-GAAP Financial Measures" below for a discussion of how we define this non-GAAP financial measure. You will find a reconciliation of this non-GAAP financial measure to the most directly comparable US GAAP measure in the accompanying financial tables at the end of this release.
3 Adjusted EBITDA and adjusted net income are non-GAAP financial measures. Please see "Use of Non-GAAP Financial Measures" below for a discussion of how we define adjusted EBITDA and adjusted net income. You will find a reconciliation of adjusted EBITDA and adjusted net income to GAAP net income, the most directly comparable US GAAP measure for both non-GAAP measures, in the accompanying financial tables at the end of this release.
Q1 2013 Operational and Corporate Highlights
- Share of Russian search market averaged 61.6% in Q1 2013 (according to LiveInternet), an increase of 1.1 p.p. sequentially and a 2.2 p.p. increase on a year-over-year basis
- SERPs (search engine result pages) grew 25% from Q1 2012
- Number of advertisers grew to more than 226,000, up 26% from Q1 2012 and up 6% from Q4 2012
- Enhanced the contextual ads served through our partner network with the addition of images
- Launched a newly redesigned Yandex.ru homepage
- Announced a share repurchase program of up to 12MM shares; as of April 24 th, 2013, we have repurchased 2MM shares
|In RUR millions||Three months|
|ended March 31,|
|Total text-based advertising||5,304||7,154||35%|
|Total advertising revenues||5,724||7,777||36%|
|Online payment commissions||114||187||64%|