MOSCOW (Reuters) – Russian internet group VK downgraded its full-year revenue guidance to 124-127 billion roubles ($1.75-1.80 billion) on Thursday, citing a high base effect related to the COVID-19 pandemic.
Its previous 2021 revenue forecast was for growth of 18-21% to 127-130 billion roubles.
VK, formerly Mail.Ru Group until a rebranding this month, reported a 19% rise in third-quarter consolidated revenue to 30.4 billion roubles, which it said was supported by appetite for online advertising and educational technology.
($1 = 70.6750 roubles)
(Reporting by Anna Rzhevkina and Alexander Marrow; editing by Jason Neely)
