MOSCOW, August 8. /TASS/. Revenue of Russia’s tech holding VK under the International Financial Reporting Standards (IFRS) for January - June 2024 increased by 23% to 70.2 bln rubles ($814.56 mln), the company reported.

The company noted that the main source of growth was online advertising, revenues from which increased by 20% compared to the first half of 2023 to 42 bln rubles ($487.34 mln).

The company's revenue from online advertising from small and medium businesses grew 29%, while revenue from advertising integrations with its own content, partner shows and bloggers grew 2.8-fold.

By the end of the Q2 of 2024, users of VK services make up more than 95% of the monthly audience of the Russian segment of the Internet.