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A lot of traditional offline brands are allocating larger parts of their media spend to the social networks, and are adopting mobile and in-feed video ad formats. We continue to see advertising budgets shift to mobile and hence we benefit from our leading position in the Russian mobile space. As in previous periods, the fastest growing advertising revenues remained in-feed promo posts across the social networks including video. Despite this, advertising revenues in Q3 grew 32.5% Y-o-Y to RUR 5,821m. As in H1 we continue to boost our new mobile products, thus limiting the inventory available for sale. For the first nine months, revenues have grown on a pro-forma basis 35.2% Y-o-Y to RUR 39,905m and EBITDA 9.0% Y-o-Y to RUR 14,106m.Īdvertising revenue growth remained strong in Q3, with the trends in both budget allocation and pricing that we have seen over the last years continuing. As such, EBITDA grew 1.1% Y-o-Y to RUR 4,260m. As we have stated previously, 2017 remains an investment year for us and we continue to put significant resources behind a number of our new projects which, at this stage, are not contributing to EBITDA.
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Q3 revenue, including all acquisitions on a pro forma basis, grew 39.1% Y-o-Y to RUR 13,577m. "We are pleased to report our results for the third quarter and first nine months of 2017 where we have continued to see strong growth.
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OK Live for Android was updated with the Full HD live streaming feature.VK launched Direct Games, a platform for HTML-5 games, which can be launched directly from within VK mobile apps.VK Admin is a new app on iOS and Android letting administrators of groups communicate with group members/customers, take orders, add/edit goods and services, monitor statistics etc.A new tool for VK communities: a community can join the ad network and receive its share of promo posts' sales on community pages and in the newsfeed.
VK introduced an algorithm called "Prometheus", which finds trending or potentially trending authors and promotes their content in Explore section, and announced the roll out of a platform for long-form journalism with the ability to format text and use multimedia attachments.VK released major updates of iOS and Android apps: a new design with simplified navigation, new Explore section (for personalized content discovery) and flexible notifications.Net cash position as of 30 September 2017 was RUR 9,718 million. 9m 2017 Group aggregate net profit grew 12.0% Y-o-Y to RUR 9,730 million.9m 2017 Group aggregate segment EBITDA grew 9.0% Y-o-Y to RUR 14,106 million.9m 2017 Group aggregate segment revenue grew 35.2% Y-o-Y to RUR 39,905 million.Q3 2017 Group aggregate net profit declined 0.5% Y-o-Y at RUR 2,918 million.Q3 2017 Group aggregate segment EBITDA grew 1.1% Y-o-Y to RUR 4,260 million.Q3 2017 Group aggregate segment revenue grew 39.1% Y-o-Y to RUR 13,577 million.
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