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Yandex raises revenue forecast, talks up dividend prospect

May 08, 2017
Russia’s largest internet group, NASDAQ-listed Yandex on Thursday raised its sales outlook for the year after settling a dispute with Google over product distribution on the U.S. company’s Android operating system.

Google announced a deal with Yandex and Russia’s competition watchdog on April 17, pledging to stop requiring manufacturers of Android-based devices to pre-install its search engine and other applications.

Yandex expects the settlement to "open the door to market share gains on mobile (devices) in 2017 and beyond," Chief Executive Arkady Volozh said in a statement.