Yandex First-Quarter Net Advances 53% to 1.26 Billion Rubles

Yandex NV (YNDX), Russia’s most-used search engine, said net income climbed 53 percent in the first quarter from the same period last year to 1.26 billion rubles ($43 million) as text-based ad revenue surged.

Revenue in the period gained 51 percent to 5.9 billion rubles, the U.S.-listed company said in a statement today.

To contact the reporter on this story: Ilya Khrennikov in Moscow at ikhrennikov@bloomberg.net

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