Mail.Ru Q1 Earnings: Revenues Up 45% To $160M

Mail.ru, the Internet giant -- and 2 percent owner of Facebook -- today reported Q1 revenues of $160 million, up 45 percent over last year and posted annual earnings with a full-year net profit $208.6 million -- a impressive rise of 158.2 percent as it launched a range of new products and continued its push into international territories using games as its main assault weapon. The company runs one of the country's biggest social networks and its biggest web mail service, both of which saw significant growth over last year. With Mail now numbering 32.7m Russian subscribers and Odnoklassniki (?OK?) with 25.3m monthly active users as of March 2012.

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