Yandex Search Share Gains as Google’s, Mail.ru’s Portions Shrink
By Halia Pavliva - Mar 19, 2012 10:58 AM CT
bloomberg.com
Yandex NV (YNDX), Russia’s most popular Internet search engine, saw its weekly search-market share rise to the highest in eight weeks, while Google Inc.’s portion decreased, data compiled by Liveinternet.ru show.
Yandex’s share of the Russian online search market rose to 59.5 percent in the week through March 18, the highest since the week ended Jan. 22, according to Liveinternet, an Internet-service provider and researcher. Yandex’s share was 59.1 percent the previous week, the lowest since at least August 2010, and averaged 59.3 percent over the past four weeks, the data showed.
Google’s (GOOG) share of Russian searches fell to 25.8 percent from 26 percent the previous week and compared with a four-week average of 25.8 percent, according to Liveinternet.
The share of Mail.ru Group Ltd., the largest Russian-language Internet company, fell to 9.3 percent from the previous week and from a four-week average of 9.4 percent, the data showed.
Yandex’s U.S.-traded shares rose 0.3 percent to $24.75 at 11:51 a.m. in New York. Yandex has gained 25 percent this year after losing 21 percent from its May initial public offering in 2011, data compiled by Bloomberg show.
Global depositary receipts of Mail.ru rose 0.3 percent to $38.70 in London. Yandex is trading at 29 times analysts’earnings estimates, compared with 45 times for Mail.ru (MAIL), according to data compiled by Bloomberg.
To contact the reporter on this story: Halia Pavliva in New York at hpavliva@bloomberg.net
To contact the editor responsible for this story: Emma O’Brien at Eobrien6@bloomberg.net |
