FILE PHOTO: The logo of Russian internet group Yandex is pictured at the company's headquarter in Moscow, Russia October 4, 2018. REUTERS/Shamil Zhumatov/File Photo
MOSCOW (Reuters) -Russian internet giant Yandex on Wednesday reported a 34% rise in second-quarter adjusted net income compared with a year ago and raised its 2021 group revenue forecast to between 330 and 340 billion roubles ($4.49-$4.63 billion).
Yandex, which is spending $400-500 million on an e-commerce drive this year to tap into the pandemic-driven surge for online services, said gross merchandise volumes (GMV) for its e-commerce businesses jumped 155% to 35.1 billion roubles year on year.
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