Naver’s Q1 profit jumps 28% on increased ad income
Published: 27 Apr. 2017, 20:06
Naver, operator of Korea’s most popular search engine, said Thursday its net profit soared 28 percent in the first quarter from a year earlier on increased advertisement income.
Net profit reached 211 billion won ($186 million) on a consolidated basis in the January-March period, compared with a profit of 165 billion won a year earlier, the company said in a regulatory filing.
“As mobile handset users increasingly look for information from our search engine, companies offered to post more of their advertisements for more exposure,” a company spokesman said.
Revenue from its advertisement business increased 22 percent to 99.7 billion won in the first quarter from 81.5 billion won a year earlier, he said. Operating profit rose 13 percent year on year to 290.8 billion won in the first quarter, and sales surged 16 percent to 1.08 trillion won.
YONHAP
Net profit reached 211 billion won ($186 million) on a consolidated basis in the January-March period, compared with a profit of 165 billion won a year earlier, the company said in a regulatory filing.
“As mobile handset users increasingly look for information from our search engine, companies offered to post more of their advertisements for more exposure,” a company spokesman said.
Revenue from its advertisement business increased 22 percent to 99.7 billion won in the first quarter from 81.5 billion won a year earlier, he said. Operating profit rose 13 percent year on year to 290.8 billion won in the first quarter, and sales surged 16 percent to 1.08 trillion won.
YONHAP
with the Korea JoongAng Daily
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