Shares of Russian internet firm Yandex (NASDAQ:YNDX) are down 3% pre-market in U.S. trading despite beating Q2 estimates on the top and bottom line.
Online ad revenue fell 15% Y/Y to RUB29.1M due to the coronavirus pandemic. Revenue from Yandex properties was down 11% (accounting for 49% of revenue), and ad network sales dropped 31% (10% of revenue.)
The Taxi segment grew 42% Y/Y to account for 30% of total revenue, up nine percentage points on the year. The growth was primarily due to the…
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