Feb. 22 (Bloomberg) -- Yandex NV, Russia’s most popular search engine, said profit in the fourth quarter rose 50 percent as rising Internet use boosted ad sales.
Adjusted net income reached 2.2 billion rubles ($74 million) from 1.47 billion rubles in the same period a year earlier, the company said in a statement distributed to reporters in Moscow today. Revenue climbed 56 percent to 6.44 billion rubles.
Yandex expects sales this year to increase 40 percent to 45 percent from the 20 billion rubles reached in 2011, which was a 60 percent gain.
--Editors: Brad Cook, Paul Abelsky.
To contact the reporter on this story: Yuliya Fedorinova in Moscow at email@example.com
To contact the editor responsible for this story: John Viljoen at firstname.lastname@example.org