Yandex Q1 Earnings: Revenues Up 51% To $200.3M, Net Income Up 53% To $43M

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yandexYandex, Russia’s biggest search company, has posted Q1 earnings, with revenues up 51% to $200.3 million, and net income up 53% to $43 million. The results beat analyst expectations: on average analysts expected revenues of $194.64 million, with earnings per share of $0.15 (low $0.13; high $0.16), but other numbers may still give investors pause: Yandex’s share of the search market in Russia, its largest market by far, is now at 59 percent against competition from Google and others: last year it was closer to 65 percent.

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