Yandex Climbs Most in a Week After Profit Jumps 53%

(Corrects estimates in last paragraph.)

Yandex NV (YNDX), Russia’s most-used Internet search engine, jumped the most in a week in New York after reporting a 53 percent increase in first-quarter net income.

The Hague, Netherlands-based company, listed on the Nasdaq Stock Exchange, climbed 1.6 percent to $24.94 by 9:40 a.m. in New York, poised for its biggest one-day advance since April 17.

Yandex reported today that net income in the first three months of 2012 rose 53 percent from the same period last year to 1.26 billion rubles ($43 million) as text-based advertising revenue rose. Sales gained 51 percent to 5.9 billion rubles, the company said in a statement.

The median of four analysts’ estimates compiled by Bloomberg was for net income of 1.43 billion rubles. The median projection for first-quarter sales was 5.71 billion rubles, from nine estimates.

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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