The full year figures show that Yandex's revenues were up 51% to $622 million.  The number of advertisers (270,000) was up 44% on the 2010 figures.

Yandex averaged more than 60% of the Russian search market in the fourth quarter of 2011 (Google has approximately 25% of the market share in Russia).

This week, Yandex has also announced a search partnership with Twitter.

More on this story from The NextWeb.