No. 3 portal provider posts net loss of $7.4 millionSK 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.
More in Industry
Binggrae to scoop up ice cream competitor after FTC approves merger
LG accepting orders for rollable, $85K television
Shinsegae Group chair passes down shares to children
This Chuseok, the gift sets are meaty, boozy and pricey