Russian internet firm VK reported a net loss of 94.9 billion roubles (US$1.13 billion) for 2024. This figure nearly triples the previous year’s loss of 34.3 billion roubles (US$405.7 million).

The company attributed the increase to higher spending on content creation, attracting content creators, and investments in technical equipment, development, and staffing.

VK noted that these expenditures were aimed at driving audience growth.

The financial results were disclosed on Mar. 20, 2025. During the reporting period, the exchange rate was 84 roubles to the US dollar.