|End-of-day quote - 07/23|
Naver's Second-Quarter Net Profit Surged Nearly Six-Fold
|07/21/2021 | 05:12pm|
By Kwanwoo Jun
Naver Corp.'s second-quarter net profit surged nearly six-fold from a year earlier, driven by solid growth in nearly all of its online business platforms including e-commerce.
Net profit for the quarter ended June 30 was 540.60 billion Korean won ($470.3 million) compared with net profit of KRW90.70 billion in the same quarter a year earlier, the South Korean internet group said Thursday. That beat a FactSet-compiled consensus forecast for net profit of KRW316.44 billion.
Revenue during the quarter rose 30% on year to KRW1.664 trillion, while operating profit gained 8.9% on year to KRW335.60 billion.
Naver said the above-consensus quarterly results were led by strong growth in its business platforms of online shopping, fintech services, advertisement based on web searches and paid content.
Write to Kwanwoo Jun at email@example.com
(END) Dow Jones Newswires