The company, which raised over $1.4 billion in a NASDAQ IPO earlier this year, reported revenues of RUR 5.2 billion ($161.9 million), up 65 percent compared with Q3 2010.
Net income jumped 93 percent to RUR 1.7 billion ($53.5 million) compared to the third quarter of 2010, beating forecasts.
According to LiveInternet data, Yandex’s share of the Russian search market averaged 62.7 percent in Q3 2011, trumping Google by a margin. The company also reports that its number of advertisers have increased by more than 48 percent compared to Q3 2010, clocking in at over 158,000.
The company’s price per share is $25.79 before market open, giving Yandex a market cap of roughly $8.3 billion.