Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Yandex Sinks Most in 10 Months After Sales Miss Estimates

Yandex NV, Russia largest search-engine company, dropped the most in 10 months after its fourth-quarter profit missed analyst estimates.

Shares of the Hague, Netherlands-based company declined 9.1 percent to $36.21 at 12:26 p.m. in New York, set for the biggest loss since April 15. Yandex has slid 16 percent this year after doubling in 2013. The Bloomberg Russia-US Equity Index of the most-traded Russian companies in New York fell for a third day, dropping 0.5 percent.

Yandex, which makes most of its revenue from online advertising, said net income in the last three months of 2013 climbed 24 percent from a year earlier to 3.35 billion rubles ($94 million). That fell short of the 3.7 billion-ruble average of four analyst estimates compiled by Bloomberg. Russia’s economy grew at less than half the previous year’s pace in 2013, missing economist forecasts, the Moscow-based Federal Statistics Service said Jan. 31.

“Yandex is probably going to suffer from the general slowdown in the market of contextual advertising, which won’t grow so fast because the economy in general is slowing down,” Sergey Libin, an analyst at ZAO Raiffeisenbank in Moscow, said by phone today.

Yandex, which has more than double Google Inc.’s market share for Internet searches in Russia, has benefited from booming online advertising in the country. So-called “contextual” marketing, in which ads are targeted to a user’s searches, will help improve sales, according to the company.

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.