NHN searching for answers after posting 16% drop in Q4NHN, the operator of Korea’s most-visited Web search engine, said yesterday its fourth-quarter earnings fell 16.1 percent from a year earlier due to increased marketing costs.
Net income amounted to 113.3 billion won ($101.6 million) in the October to December period, compared with 135 billion won the previous year, the company said in a regulatory filing.
Sales rose 24.7 percent on-year to 591 billion won over the cited period, and operating profit gained 15.9 percent to 152.5 billion won, it added.
The company said the weaker bottom line in the fourth quarter mainly resulted from rising marketing costs, but for the whole year, its earnings improved on the back of increased advertising revenues.
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