LONDON – VK, owner of Russian social network VKontakte, reported a second-quarter net loss of 3.4 billion roubles ($56 million) on Thursday, partly due to a 14 billion rouble ($231 million) foreign exchange hit.
The VKontakte network, often compared to Facebook, has emerged as a key player in the race to replace Western services in the wake of Russia’s invasion of Ukraine and blocks imposed by Moscow since then on Western social media platforms.
VK’s second quarter result was…
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