Bloomberg News

Yandex Search Share Drops to 2010 Low as Google’s Portion Rises

March 12, 2012

Yandex NV (YNDX), Russia’s most popular Internet search engine, saw its weekly search-market share drop to the lowest since at least August 2010, while Google Inc.’s portion increased, data compiled by Liveinternet.ru show.

Yandex’s share of the Russian search market declined to 59.1 percent in the week through March 11, the lowest in data going back to August 2010 of Liveinternet, an Internet-service provider and researcher. Yandex’s share was 59.3 percent the previous week and averaged 59.3 percent over the past four weeks, the data showed.

Google’s (GOOG) share of Russian searches rose to 26 percent from 25.7 percent, compared with a four-week average of 25.6 percent, according to the Liveinternet data.

The share of Mail.ru Group Ltd. (MAIL), the largest Russian- language Internet company, was unchanged at 9.4 percent from the previous week and from a four-week average of 9.4 percent, the data showed.

Yandex’s U.S.-traded shares fell 1.6 percent to $23.10 by 12:56 p.m. in New York, set for the lowest close since March 1. Yandex has gained 17 percent this year after losing 49 percent from its May initial public offering in 2011, data compiled by Bloomberg show.

Global depositary receipts of Mail.ru fell 1 percent to $39 in London, paring this year’s advance to 50 percent. Yandex is trading at 28 times analysts’ earnings estimates, compared with 46 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


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