Yandex NV (YNDX:US), Russia’s most popular Internet search engine, saw its weekly search-market share rise to the highest this year, while Mail.ru Group Ltd.’s portion fell for a third consecutive week and Google Inc.’s (GOOG:US) share declined, data compiled by Liveinternet.ru show.
Yandex’s share of the Russian online search market rose for a third straight week, gaining to 60.6 percent in the period through April 15, the highest since the five days to Dec. 25, according to Liveinternet, an Internet-service provider and researcher. Yandex’s share averaged 59.9 percent over the past four weeks, the data showed.
Google Inc.’s share of Russian searches fell for the first time in five weeks, dropping to 25.6 percent from 26.1 percent in the previous period, for a four-week average of 25.9 percent, according to Liveinternet.
The market share of Mail.ru (MAIL) Group Ltd., the largest Russian-language Internet company, fell to 8.5 percent from 8.8 percent in the previous week, while the four-week average was 9 percent, the data showed.
Yandex’s U.S.-traded shares (YNDX:US) rose 0.5 percent to $26.68 at 2:30 p.m. in New York. Yandex has gained 35 percent this year, after losing 21 percent in 2011 from its initial public offering, data compiled by Bloomberg show.
“We see it as positive that Yandex’s share of search is improving,” David Ferguson, an analyst at Renaissance Capital in Moscow, wrote in an e-mailed report today. “With the Internet advertising market remaining robust, we expect Yandex to report strong first-quarter results on April 26.”
Global depositary receipts of Mail.ru rose 0.5 percent to $40.80 in London, bringing this year’s gain to 57 percent, data compiled by Bloomberg show. Yandex is trading (YNDX:US) at 32 times analysts’ earnings estimates, compared with 46 times for Mail.ru, according to data compiled by Bloomberg.
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