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Yandex Reports 51 Percent Rise In Q1 Revenue

Russian search company Yandex is reporting its first quarter results, and revenues of $200 million, up 51% from Q1 2011. Yandex now holds 59.4% of the search market in Russia, and is seeing a quickly growing user base in Turkey, where it recently launched a Turkish search site. This year, Yandex announced a partnership with Twitter to gain access to its fire hose of real-time tweets, and also launched Yandex Navigator, a voice-controlled GPS app for iOS and Android. Here's how Yandex scales with other global search companies: China's Baidu (which owns 78% of the Chinese search market) also reported Q1 earnings yesterday, and revealed revenues of $667 million, a 75% rise since last year, while Google reported revenues of $10.65 billion, up 24% from 2011.

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