Yandex Internet Search Share Falls, Google’s Gains: Liveinternet
Yandex NV (YNDX), Russia’s most popular Internet search engine, saw its weekly share of the Internet search market fall for a second week, while Google Inc.’s (GOOG) share rose and Mail.ru Group Ltd.’s portion remained unchanged in the week to April 29, data compiled by Liveinternet.ru show.
Yandex’s share of the Russian online search market fell to 60 percent in the period through April 29, from 60.5 percent in the previous week, according to Liveinternet, an Internet- service provider and researcher. Yandex’s share averaged 60.2 percent over the past four weeks, the highest since the four- week period through Jan. 1, the data showed.
Google Inc.’s share of Russian searches rose to 26.3 percent, the highest since the five days through Jan. 8, from 25.6 percent in the previous week, for a four-week average of 25.9 percent, unchanged from the previous week, according to Liveinternet.
The market share of Mail.ru (MAIL) Group Ltd., the largest Russian-language Internet company, was unchanged at 8.7 percent, while the four-week average fell to 8.7 percent, the lowest since the four weeks through Jan. 29 and compared with 8.8 percent as of last week, the data showed.
Yandex’s U.S.-traded shares fell 3.2 percent to $23.91 at 3:27 p.m. in New York, trimming this year’s gain to 21 percent. Yandex lost 21 percent in 2011 from its initial public offering, data compiled by Bloomberg show. Yandex fell 11 percent in April from March, its first monthly drop this year.
Global depositary receipts of Mail.ru fell 0.6 percent to $43.25 in London, bringing this month’s gain to 9.6 percent. The stock rose in three months in four this year, gaining 66 percent this year, data compiled by Bloomberg show. Yandex is trading at 28 times analysts’ earnings estimates, compared with 38 times for Mail.ru, according to data compiled by Bloomberg.
To contact the editor responsible for this story: Emma O’Brien at Eobrien6@bloomberg.net