Boston, MA 04/10/2014 (wallstreetpr) – The gradually increasing demand of internet connectivity has given birth to various renowned internet companies. Yandex NV (NASDAQ:YNDX) is one such company which holds the record of being Russia’s, rather Europe’s biggest internet provider. The company is progressively enlarging its business into other countries like Ukraine, Turkey, Kazakhstan and Belarus. Exclusively in Russia, Yandex covers up more than 60% of the traffic. Besides offering handful of services, the company specializes in offering Yandex Mail, Yandex News, Yandex Maps and so on. Henceforth, the company aims to globally recognize itself as a major internet operator.
New investment in the technology sector:
Yandex NV (NASDAQ:YNDX)’s Chairman of Board, Alfred Fenaughty, has acknowledged on March, 2014 that the company will make an extraordinary purchase of KitLocate. The KitLocator enables mobile devices to work on geo-locator. In spite of all such successful investments, the company suffered a loss of 4.9% of the total revenue. This sank is one of the biggest recorded in the history of Yandex till July, 2013. However, the company managed to sell off $5.3 million of shares on April 1, 2014, but it will be interesting to look forward for the upcoming 1Q2014 financial report.
Announcement of 1Q2014 financial records:
This April 24, the company will be declaring their financial report on the basis of their quarterly performance. On Thursday 24, around 8:00 am (the U.S. Easter Time), 4:00 pm (Moscow Time), and 1:00 pm (London Time) the company will organize a conference call through which they will declare their first quarter report.
The mission and vision of the internet company is to lessen the users’ online complexity and set up user-centric service. The $10.04 billion company expects 30% stumble on its first quarter. Global business sectors as well as Yandex NV (NASDAQ:YNDX)’s customers are eagerly waiting to hear the 1Q2014 report, which ended on March 31, 2014. Will it be possible for the Russian based giant internet company to overcome their critical situation and leap back to their original position?