VK’s revenue over the past year increased to 132 billion rubles – Kommersant
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Revenue of VK holding (MOEX: VKCO) at the end of 2023 increased by 36% and amounted to 132.8 billion rubles, follows from reporting according to IFRS. In the fourth quarter of last year, revenue increased by 34% compared to the same period in 2022, to RUB 42.5 billion. The audience of VK services last year amounted to 76 million users, an increase of 13%.
According to the report, VK’s revenue grew due to online advertising, which increased by 40% to RUB 79.7 billion. Revenue from online advertising for small and medium-sized businesses grew by 42%, and from integrations in their own content, partner shows and bloggers – by 2.5 times. Revenues also increased in the Educational Technologies and Business Technologies segments: by 42% and 68%, respectively. Non-advertising revenue increased by 30%. Adjusted EBITDA amounted to RUB 495 million.
In 2023, users spent 6% more time on VK services, the average value was 3.4 billion minutes per day, according to the reports. The daily audience of the holding’s services in the fourth quarter of 2023 grew by an average of 6%, to 78 million users.
The average daily audience of the VKontakte social network in 2023 grew by 10%, to 54.1 million users. As a result of audience growth, the social network’s revenue increased by 23%. Content creators on VKontakte over the past year earned RUB 5.5 billion – 37% more than in 2022.
About the activities of VK – in the material “Kommersant” “Comments for the benefit of the intellect”.
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