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Biz News Korea(Eng)
Naver’s Q2 operating profit up 4.6% on year, down 1.9% on quarter
- Collected
- 2017.07.27
- Distributed
- 2017.07.31
- Source
- Go Direct
Revenue grew 14.4 percent on a consolidated basis from a year earlier and 4.4 percent from the first quarter. Operating profit rose 4.6 percent from a year ago but fell 1.9 percent from the previous quarter.
At 11:25 a.m., shares of Naver were down 0.1 percent at 824,000 won.
Revenue from its advertisement business climbed 21.9 percent on year to 117.7 billion won in the second quarter, helped by new mobile products, improved mobile platform and seasonal demands, the company said.
Sales from its commercial platform grew 12.6 percent on year to 520.5 billion won during the same period, helped by a strengthened mobile search engine. Sales from IT Platform soared 75.7 percent to 49.4 billion won, driven by the growth of fledgling Naver Pay.
Sales from its content business slipped 11.0 percent on year following transfer of its app store business, but gained 3.9 percent to 24.4 billion won from the previous quarter thanks to demand in webtoon and V LIVE services.
The Naver App Store was merged into One Store in partnership with app stores run by three mobile carriers earlier this year.
Sales from LINE messenger and other platform businesses came to 417.6 billion won, up 12.0 percent from a year ago and 2.9 percent from the previous quarter.
By Oh Chan-jong
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