VK’s revenue in the first quarter of 2023 grew by 39.5% compared to the same period last year and reached 27.3 billion rubles, the company said.

VK increased revenue in the first quarter by almost 40% due to online advertising

The main source of growth was online advertising. Revenue from this segment increased by 67%, reaching 16.3 billion rubles.

In the first quarter, the daily average audience (DAU) of VK services increased by 17% to 76 million users. Time spent averaged 3.6 billion minutes per day.

  • segment revenue “Social networks and content services” increased by 47% to RUB 21.5 billion. This was due to the growth of the VKontakte social network, VK’s biggest asset, and the purchase of Yandex’s Zen platform in September 2022.

Thus, the average monthly audience (MAU) of VKontakte in Russia increased by 11% and reached a record 81.5 million users. The daily average audience (DAU) increased by 11%, reaching 52.3 million users.

  • segment revenue “Educational Technologies” grew 21% to 3.4 billion rubles due to “strong demand for courses from educational platforms included in Skillbox Holding Limited, and the effect of consolidation of the online platform for schoolchildren Uchi.ru,” the report says.
  • Segment “Business Technologies” being the fastest growing, its revenue in the first quarter increased 55% year-over-year, to 1.1 billion rubles. The drivers of growth were cloud platform solutions VK Cloud and services for automating the HR function.
  • Segment “New Business Directions”which includes voice technologies, VK Play and RuStore, showed revenue of 1.35 billion rubles.


anastasia mariana

Source: RB

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