Yandex Rides Non-Core Business Growth to a Mixed Quarter

Yandex N.V. (NASDAQ: YNDX) released second-quarter 2019 results on Friday morning, highlighting continued heady growth from its core search and portal business. It announced even more impressive gains from non-core segments such as its budding taxi, ridesharing, and media subscription offerings.

Shares of the Russian internet-search specialist initially climbed more than 10% in Friday's early trading but ultimately gave up those gains to close down around 3.6%. Let's dig deeper to see if there was anything that might have merited today's whiplash.

Image source: Yandex.

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