VK reports quarterly profit amid ongoing losses
In 2025, VK incurred a net loss of 24.9 billion rubles, in 2024 — 94.9 billion, in 2023 — 34.3 billion, in 2022 — 32.6 billion, in 2021 — 6.5 billion, and in 2020 — 1.9 billion.
Consensus
- VK reported a net profit of 328 million rubles for the second quarter of 2026.
- The profit was primarily due to the sale of a 25% stake in 'Tочка Bank' to 'Interros' in April 2026 for 21.2 billion rubles.
- VK reported a net loss of approximately 3.8 to 3.85 billion rubles for the first half of 2026.
- The company's revenue for the first half of 2026 increased by 12% to 81 billion rubles.
- VK has been operating at a loss for seven consecutive years, with losses in 2024 (94.9 billion), 2025 (24.9 billion), and earlier years.
- The Russian government provided subsidies to VK-related projects, including 39.5 billion rubles in 2025 for the 'national video platform' and additional funds for the 'national messaging service' Max.
- The head of VK is Vladimir Kirienko, son of Sergey Kirienko, first deputy head of the Presidential Administration.
- VK conducted a secondary share issuance in 2025 to raise funds.
- The company's debt remained stable at around 100–103 billion rubles at the start and end of the first half of 2026.
- The sale of 'Tочка Bank' stake contributed 3.5 billion rubles to the profit, and without it, the second quarter would have been unprofitable.
Points of divergence
- The company 'Sogaz' disappeared from VK's report, and its removal may be due to sanctions; the source claims 'Sogaz' was controlled by associates of Putin, including Yuri Kovalchuk and Mikhail Shelomov. — tg_echoonline_news
- The removal of 'Sogaz' from the report eliminated 'ironclad proof' that Mikhail Shelomov owns shares in Max and VK Video. — tg_echoonline_news
- The representative of VK stated that the effect of the 'Tочка Bank' sale was 'insignificant,' attributing the profit instead to improved operational efficiency and reduced expenses. — meduza
- The reduction in the half-year loss was due to the delayed effect of a secondary share issuance worth 112 billion rubles, with proceeds used to repay loans. — novaya_eu
- VK's cumulative losses since 2020 have approached 200 billion rubles. — tg_astrapress
- VK's debt has remained nearly unchanged since the start of 2026: 103 billion at the beginning and 100 billion at the end of the first half. — novaya_eu
- VK's stock price has fallen tenfold since autumn 2021. — novaya_eu
Coverage (4 sources)
- VK reported profit in the second quarter of 2026, but the first half of the year still proved unprofitable for the company — ЭХО / Новости
- VK for the first time in over three years earned profit for the quarter. Helped by sale of stake in bank 'Point' — Meduza
- VK Company reported billion-dollar losses for the seventh year in a row — ASTRA
- VK continues to operate in the red despite its monopoly position, additional issuance, and subsidies — Новая газета Европа