VK Reports First Quarterly Profit Since 2022
The company explained that revenue in the first half of the year increased due to online advertising from large businesses (+12% to 29.1 billion rubles), in-stream video advertising (+44% to 4.9 billion rubles), VK Tech (+35% to 9 billion rubles), and children's educational services (+26% to 4.9 billion rubles).
Consensus
- VK reported a net profit of 328 million rubles for the second quarter of 2026.
- VK's revenue for the second quarter of 2026 was 43.5 billion rubles, a 17% increase year-on-year.
- VK's revenue for the first half of 2026 reached 81 billion rubles, a 12% increase compared to the same period in 2025.
- EBITDA for the first half of 2026 grew by 34% year-on-year to 14 billion rubles.
- The EBITDA margin for the first half of 2026 was 17%, an increase of 3 percentage points.
- VK's net debt decreased by 27% to 60.2 billion rubles by the end of the first half of 2026.
- The ratio of net debt to EBITDA decreased from 3.6x to 2.3x over the same period.
- VK's debt burden has been reduced more than threefold over the past 1.5 years.
- The company's operating cash flow for the first half of 2026 turned positive, reaching 15.4 billion rubles.
- VK's cash reserves increased by 51% to 49.6 billion rubles by the end of June 2026.
- The average daily audience (DAU) of VK services increased by 13.2 million to 90.7 million users in the second quarter.
- Daily time spent on VK services reached a record 7.8 billion minutes, up 57% year-on-year.
Points of divergence
- VK's revenue growth accelerated from 6% in the first quarter to 17% in the second quarter of 2026. — kommersant
- VK's net loss for the first half of 2026 decreased from 12.67 billion to 3.85 billion rubles. — kommersant
- The growth rate of the 'Social Platforms and Media Content' segment accelerated from 8% to 13% in the first half of 2026. — kommersant
- The growth rate of 'Ecosystem Services and Other' slowed from 18% to 7% in the first half of 2025. — kommersant
- The growth rate of 'Technology for Business' (VK Tech) slowed from 48% to 35% year-on-year in the first half of 2026. — kommersant
- The main source of revenue remains advertising, with 29.1 billion rubles from large business and a 44% increase in video ad revenue. — tg_mash
- VK Tech revenue reached 9 billion rubles for the first half of 2026. — tg_mash
- Children's educational services generated 4.9 billion rubles, up 26% year-on-year. — tg_mash
- VK's online advertising revenue was 26.7 billion rubles in the second quarter, up 14% year-on-year and 22% from the first quarter. — vesti
- VK's online advertising revenue from large business increased by 12% to 29.1 billion rubles. — interfax
- In-stream video advertising revenue increased by 44% to 4.9 billion rubles. — interfax
- The 'Social Platforms and Media Content' segment's revenue grew by 21% in the first half of 2024 and 35% in the second quarter. — interfax
Coverage (6 sources)
- VK for the first time since 2022 showed quarterly net profit — Коммерсантъ
- VK ended the second quarter with a net profit of 328 million rubles. Company revenue increased by 17%, and for the entire first half... — Mash
- VK revenue jumped to 43.5 billion rubles — Вести
- Quarterly revenue of VK grew by 17% to 43.5 billion rubles — Интерфакс
- VK received net profit according to IFRS in the second quarter against a loss last year — Коммерсантъ
- VK revenue grew by 12% in the first half of the year — Ведомости