Russia's Yandex sees 2014 revenues slowing on last year

Reuters

MOSCOW, Feb 20 (Reuters) - Russia's biggest search engine Yandex said on Thursday it expects revenues to grow by 25-30 percent this year, a slowing from the growth achieved in 2013.

For the full-year, it reported revenues up 39 percent.

Yandex is ahead of the world's biggest search engine Google in Russia with a market share of over 60 percent, benefiting from a booming online advertising market as the country has become Europe's largest internet market by audience.

The company said full-year net income was 13.5 billion roubles ($378.09 million), up 64 percent year-on-year.

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