MOSCOW (Reuters) – Russian internet giant Yandex on Thursday reported a 46% year-on-year increase in total revenues in the third quarter to 133.2 billion roubles ($2.14 billion) and expanded its dominant share in the domestic search market.
Yandex in August sold its news aggregator, content platform Zen and homepage yandex.ru to state-controlled VK in a move that is expected to tighten the government’s grip on the internet, but maintains Yandex’s stranglehold on online searches, which account for a little under half of its revenues.
($1 = 62.1000 roubles)
(Reporting by Alexander Marrow and Gleb Stolyarov; Editing by Kevin Liffey)
