No. 3 portal provider posts net loss of $7.4 million

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No. 3 portal provider posts net loss of $7.4 million

SK Communications, Korea’s third-largest Internet portal service provider, said yesterday that it logged a loss in the third quarter due to decreased sales amid the economic slump.

Net loss reached 8.1 billion won ($7.4 million) in the July-September period, compared with a profit of 1.1 billion won a year earlier, the company said in a regulatory filing.

Sales plunged 27 percent on-year to 51.2 billion won over the cited period. Its operating loss reached 12 billion won in the third quarter, shifting from an operating income of 900 million won a year earlier, it said.

Revenue from display advertisements dropped 33 percent on-year to 21 billion won, while that from search advertising sales sank 18 percent to 14.5 billion won, it said.

Yonhap

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