Co-founder in coma, Yandex stock soars on Nasdaq

Yandex shares rallied by as much as 3.6 percent on the Nasdaq, closing at $31.98 on Thursday, July 25. 

In a report released the same day, Yandex reported that its second-quarter 2013 net income had increased 47 percent to 2.9 billion rubles ($88.7 million). 

The company also upgraded its revenue guidance through the end of this year.

Yandex now expects a 34-38 percent increase in full-year revenues, up from the 30-35 percent it projected at the beginning of this year.

More about Yandex

Revenues rose by 44 percent to 28.8 billion rubles ($881.1 million) in 2012, and by 35 percent to 9.2 billion rubles ($281.4 million) in the second quarter of 2013.

“Yandex has delivered strong financial and operating results. We released the mobile version of our Yandex.Browser and a new, task-orientated version of Yandex.Mail. We also unveiled Yandex.Islands — a next generation search platform with interactive search results,” Yandex CEO Arkady Volozh was quoted as saying in the company’s press release.

Earlier on Thursday, Arkady Volozh wrote in the company’s official blog that Yandex co-founder Ilya Segalovich had passed away the night before, without going into detail. 

Soon afterward, he announced that Segalovich was still alive but in a coma and on life support.

First published in Russian in Vedomosti.

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