VK shakes off years of losses – turns profitable for first quarter since 2022

According to its report, VK’s net profit as of the end of the second quarter of 2026 was 328 million rubles. This is the holding company’s first positive quarterly result since 2022. However, the company posted a loss in the first half of the year.

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VK’s last profitable quarter was in the third quarter of 2022, when the company sold its stake in the joint venture with Sber. Now the Russian social media giant explains its net profit by the growth of EBITDA – which increased by 41% to 7.6 billion rubles according to the second quarter of 2026 results. EBITDA margin reached 17%, an increase of 3 percentage points. higher than the same period last year. During the reporting period, the average daily audience of the VK platform increased by 13.2 million people, reaching 90.7 million users; the daily time spent reached 7.8 billion minutes, an increase of 57% over the same period last year. On average, each user uses two VK products per day and spends more than 85 minutes on the company’s platform.

Despite its quarterly profit, VK still lost 3.85 billion rubles in the first half. ——12.67 billion rubles in the same period last year. Revenue in the first half of the year increased by 12% to 81 billion rubles. Online advertising revenue increased by 8% to 48.6 billion rubles. Large enterprises ordered 29.1 billion rubles of online advertising. (+12%); advertising built into video content accounted for 4.9 billion rubles. (+44%). According to the first half results, EBITDA grew by 34% to 14 billion rubles; its profitability was 17%, equivalent to an increase of 3 percentage points.

Net operating cash flow amounted to 15.4 billion rubles. ——The first half of last year was negative. In a year and a half, the company’s debt load has more than tripled; at the end of the first half, net debt fell 27% from the end of 2025 to 60.2 billion rubles. The company previously aimed to achieve EBITDA of 24 billion rubles by the end of 2026 and has not changed this forecast.