Yandex boosts US GAAP net profit 61.7% to nearly $30 mln in Q1 2011

Russia’s largest internet search engine Yandex posted a 61.7% increase in its first quarter 2011 net profit to 820 million rubles ($29.8 million) in comparison with the same period in 2010, Yandex said in a statement on Thursday.

The first quarter 2011 revenues stood at $137 million, which is 1.7 times higher than last year’s figure (2.3 billion rubles), the company said.

Earlier on Thursday, Yandex said it planned to officially give an initial publick offering (IPO) on Nasdaz. A source familiar with the plans said the company could to raise up to $1 billion in the IPO.

MOSCOW, April 28 (RIA Novosti) 

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