MOSCOW, April 3. /TASS/. The Russian subsidiary of US tech giant Google reported net profits for the first time since 2020, almost 900 mln rubles ($10.7 mln), according to financial statements filed with the Federal Tax Service.
The Google subsidiary took a net loss of 3.12 bln rubles ($37.1 mln) in 2023. The last time the company turned a profit was in 2020, when it raked in 1.73 bln rubles ($20.6 mln).
No revenue data are available for 2023 or 2024. The subsidiary was recognized as bankrupt in Russia and has been liquidating assets since October 2023.
Valery Talyarovsky, the court-appointed manager of Google, has filed actions with the Moscow arbitration court against many advertising companies since the start of 2024. According to data from April 2024, there were at least thirteen pending cases with claims totaling about 10 bln rubles ($119 mln). Many lawsuits were subsequently granted.