Открытка компании: А ведь доля Яндекса падает, в чём дело?

>запрете выбирать Яндекс? Какой такой запрет? Насколько я понимаю они ничего не запрещали, а лишь перестали при первом запуске предлагать выбирать яндекс.

Это такая прямая зависимость. Падает качество — падает доля. Жадность фраера вот-вот погубит.

Вообще, пресса заметила сообщение «Яндекса» для инвесторов: http://company.yandex.com/press_center/press_releases/2011/2011-09-29.xml А статистика да, стрёмная: http://www.liveinternet.ru/stat/ru/searches.html?slice=ru;period=month;relgraph=yes Особенно с учётом того, что в августе была авария и раз в сентябре аварий не было, то можно было и подрасти. Но, возможно, что сказалась смена алгоритма — больше трафика пошло на западные сайты, где Li.ru нет. Много трафика «Яндекс» даёт и своим проектам, где тоже счетчика Li.ru нет.

А, да и про «качество-доля» — это неочевидная зависимость. Качество растет (например, прямо в снипете показывают нужную информацию — телефон или адрес), необходимость переходить на сайт пропадает. Доля по Li.ru — тоже. Не забывайте про естественные ограничения внешних инструментов.

А, да и про «качество-доля» — это неочевидная зависимость Ну кому как. Это на уровне религии практически. Там очень большая инерция, как минимум. Про сниппеты — они и там и там, информационное различие незначительное и за последние 10 лет как-либо серьёзно, с точки зрения информативности, не менялись. Выдача в Яндексе управляется контентным мусором, в Гугле деньгами. Деньги дороже мусора, поэтому это наиболее качественный основной фактор.

Набрана критическая масса, держать темп сложнее, чем набрать его.

Дойче-банк разослал по итогам торгов, кстати: Yandex (Buy rated) shares are down 13% to $22.90 after the company hosted an investor meeting overnight in Russia with some hedge funds (see the article attached below). The primary concern of investors appears to be Yandex’s market share in search. Yandex search share of traffic generation in Russia was 61.1% in the latest public data, down 3.3% from January search share of 64.4%, while Google picked up 3.5% share over the same period to 25.4% share. We do not see this impacting the financials in the near term — long tail of small to medium size companies ad budgets We highlight how we spent some time with BIDU & it seemed like china SMEs are hard to come by and lose. This is similar for yandex so a shift in search share needs to be 3-6 months long in nature to even be considered among large cos and yandex customers are SMEs. You need people to go sign up SMEs if you are Google. Another investor concern relates to currency, as the Rubble has moved from 28 Rubbles/USD in our model to 31.7 currently (a 13% move). We would be buyers of the stock here, trading at 27x our 2012E and 21x our 2013E on a P/E basis versus constant-currency sales and earnings growth of over 30% in 2013. Yandex Off 14%: Careful When You Talk To Hedgies By Tiernan Ray Yandex’s motto is, “everything will be found.” Was that the case in its meeting with hedge fund managers? Shares of Russia’s top search engine, Yandex (YNDX), are down $3.74, or almost 14%, at $22.62, below the company’s offer price of $25 this past May. Apparently, it’s a lesson in why you should be very careful talking to hedge funds. One of the prominent investment banks apparently took four or five hedge funds on a visit with Yandex’s management in the time between yesterday’s U.S. market close and this morning, and what transpired was not good. Yandex issued a statement to its investors, the text of which I’ve pasted below. I’ve heard from one source that Goldman Sachs was the bank that led the meetings, though I haven’t been able to confirm that. Some things may have been mis-communicated in that meeting, according to David Reynolds of Jefferies & Co., who spoke with me by phone from London a short while ago. Reynolds initiated coverage of the stock a week ago with a Buy rating and a $40 price target, says Yandex is a good company, but that its corporate communications skills are among the worst he’s seen. Reynolds thinks one point of concern that hedge funds may have jumped on is a seeming shift of market share of late to Google (GOOG), based on data from the Russian search engine traffic tracked by liveinternet.ru. That data shows Google having seen an increase in hits in recent weeks. Reynolds thinks Yandex will, indeed, show a drop when it reports Q3 results for the three months ending this month. Google has been steadily increasing its own ad spend in the Russian market, he notes. But it’s also not a big deal, he thinks. “These kinds of shifts go on all the time,” he tells me. “Is it the beginning of a seismic shift in Russia [search engine market share]? I suspect not.” Specifically, Reynolds thinks Yandex’s Russia market share may have fallen from 64.6% at the end of Q2 to 63.7% this quarter. The real issue is that Yandex has great technology and a good business, but it needs to grow up when it comes to how to present itself to the world. “Their corporate communications is absolutely woeful,” he says. “It just strikes me as so incredibly naive to entertain hedge fund managers just three days before the end of the quarter.” Following is the full text of Yandex’s letter to shareholders: Dear investors, We appreciate your concern with the abrupt decline of our stock price today. While we of course can not be sure on the exact causes of that decline, one plausible explanation may be that this comes as a result of a meeting with a group of hedge funds that we have earlier today at our offices. Among other things during the meeting investors asked questions about the recent declines in our share of Russian language searches according to Liveinternet.ru and specific causes behind this. The response that Arkady Volozh, our CEO, gave to these questions although frank and straightforward as usual, may have been misinterpreted as very gloomy and downbeat. As you know, Arkady takes a great price in the company he built and a decline in the share of searches is at the front of his focus. This frankness may have been misinterpreted as pessimism about the future of the company. For you information, the reasons for the recent decline in share includes both, advancements in Chrome’s share of searches in Russia, including strengthening of Google’s positions within Chrome, and quite a few small reasons that can be broadly characterized as an increased competitive pressure from Google. Despite these problems with share of searches, we remained optimistic about the future of the company. We would also like to point out that Liveinternet.ru although an important barometer but not the only instrument to measure the quality of search, and that the company has a track record of successfully overcoming similar problem in the past (2007-2008). We hope that you find this explanation helpful and we are sorry that frankness in communications with investors has been abused.

Sonja, ну это вывод не новый: то что доля «Яндекса» такая большая, что расти уже некуда, можно только падать, мы уже слышали. В принципе, та же фигня происходит с Гуглом который по мерялке Хитвайза потерял 6 процентных пунктов за год Стало: http://www.hitwise.com/us/about-us/press-center/press-releases/bing-powered-share-of-searches-august-2011/ Было: http://www.hitwise.com/us/about-us/press-center/press-releases/google-monthly-share-of-searches-at-72-percent-i/ Дойче банк вообще упорно советует покупать «Яндекс» в своих письмах счастья: We do not see this impacting the financials in the near term — long tail of small to medium size companies ad budgets We highlight how we spent some time with BIDU & it seemed like china SMEs are hard to come by and lose. This is similar for yandex so a shift in search share needs to be 3-6 months long in nature to even be considered among large cos and yandex customers are SMEs. You need people to go sign up SMEs if you are Google. Another investor concern relates to currency, as the Rubble has moved from 28 Rubbles/USD in our model to 31.7 currently (a 13% move). We would be buyers of the stock here, trading at 27x our 2012E and 21x our 2013E on a P/E basis versus constant-currency sales and earnings growth of over 30% in 2013.

Партнерку надо Яндексу запустить для владельцев сайтов! Привел пользователя, который поставил сборку Chrome/Firefox/Opera с установленным поиском Яндекса по-умолчанию — получаешь копеечку с его поисков… либо за установку хотя бы.

Юрий, на новизну не претендую, человек же спрашивает, ищет ответ, в моем сердце его восклицание нашло отклик, вот и поделилась вариантом ). Только уточню — мое предположение про держать темп не одно и тоже с вашим его рерайтом о том, что расти некуда.

Наверняка, хотя бы отчасти, дело в дурацкой тормозной неотключаемой бесконечной выдаче

vguzev, вообще-то на распространение сборок браузеров с Яндексом многие давно и успешно зарабатывают. Не спите ;-)

Another investor concern relates to currency, as the Rubble has moved from 28 Rubbles/USD in our model to 31.7 currently (a 13% move). Отличная причина падения. Наверняка и основная. А партнерку он уже запустил с производителями Виндоуз Фонов.

Изменение курса — это веская причина для снижения котировок. Но только непонятно, почему этот фактор сказался только вчера, и почему Яндекс резко упал, а другие компании, зарабатывающие в рублях, а торгующиеся в баксах, так не падали (кажется)

> Наверняка, хотя бы отчасти, дело в дурацкой тормозной неотключаемой бесконечной выдаче Тру.