Russian job board HeadHunter Group plc (HHR: NSDQ), reported revenue on Friday of RUB 2.14 billion (USD 33.5 million) for the third quarter ended 30 September 2019, an increase of 30.0% compared to the previous year.

HeadHunter launched its IPO earlier this year and began trading shares on the US Nasdaq Stock Market.

Revenue growth of 30.0% during the quarter occurred primarily due to the increase in revenue in the group’s Russia segment. The Russia segment revenue, which increased by 29.1% during the quarter, was mainly driven by an increase of 39.7% in the number of paying customers in Small and Medium Accounts and an increase of 19.9% in the average revenue per customer in key accounts in Moscow and St. Petersburg.

Net Income was mainly driven by the increase in revenue. Adjusted EBITDA also increased primarily due to an increase in revenue.

Mikhail Zhukov, Chief Executive Officer of HeadHunter Group, commented, “Against the backdrop of a challenging macro environment, we continued to deliver strong revenue growth in key market segments as a result of balanced monetisation and customer acquisition strategies.”

“Also this quarter, we continued demonstrating our ability to increase revenue whilst improving profitability. We continued to deliver on our mobile-first strategy and in the third quarter of 2019 over 80% of total traffic came from mobile devices. We deem this especially important in the light of our increasingly high focus on blue collar professionals,” Zhukov said.

Looking ahead, based on its recent performance, HeadHunter currently expects its revenue to grow in the range of 27% to 28% year-over-year and its Adjusted EBITDA Margin to be between 50% and 51% for the year 2019.

“This outlook reflects our current view, based on the trends that we see at this time, and may change in light of market and economic developments in the business sectors and jurisdictions in which we operate,” HeadHunter stated.

On Friday, HeadHunter Group shares closed at USD 21.38, up 6.10% on the day and -0.54% below its 52-week high of USD 21.50, set on 6 December 2019. Based on its current share price the company has a market value of USD 1.07 billion.