VK increased its net profit in the third quarter against a loss a year earlier
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The total net profit of VK according to the IFRS amounted to 41.2 billion rubles. against 2.3 billion total net loss a year earlier, follows from the holding’s reporting for the third quarter. The Kommersant company clarified that the net profit was influenced by the exit from O2O-holding and the sale of the international gaming direction MY.GAMES. The holding sold it for $642 million to the manager of LETA Capital Alexander Chachava.
VK’s total IFRS revenue grew by 21% year-on-year to RUB 24.1 billion. (At the same time, the total adjusted revenue of VK, taking into account the revenue of MY.GAMES, grew by 9% year-on-year, to RUB 32 billion). The main growth driver was online advertising. In the third quarter of 2022, VK’s advertising revenue grew by 29% year-on-year to RUB 14.4 billion.
Read more in the material “VK will play differently”.
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