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February 24, 2012 10:32 pm GMT
Mail.Ru has issued a preliminary trading statement for the fiscal year 2011. The largest Russian-language Internet company, is looking at a margin outlook of 50 percent this year according to CEO Dmitry Grishin, speaking on a conference call, and plans to reinvest the cash to improve its products. Net income in the second half of 2011 almost tripled year on year to $122.9 million. Shares were up on the news.Mail.ru has seen stronger advertising revenue than it expected in the fourth quarter and plans to focus on higher quality products with its online game business.
Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/0y3xRkxju30/
Mail.Ru Issues Gangbusters Trading Figures, Plans More Social Games
Mail.Ru has issued a preliminary trading statement for the fiscal year 2011. The largest Russian-language Internet company, is looking at a margin outlook of 50 percent this year according to CEO Dmitry Grishin, speaking on a conference call, and plans to reinvest the cash to improve its products. Net income in the second half of 2011 almost tripled year on year to $122.9 million. Shares were up on the news.Mail.ru has seen stronger advertising revenue than it expected in the fourth quarter and plans to focus on higher quality products with its online game business.Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/0y3xRkxju30/
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