Naver Q2 net profit skyrockets 80.9 percent, beats expectations

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Naver Q2 net profit skyrockets 80.9 percent, beats expectations

Published: 04 Aug. 2023, 09:37

Naver headquarters in Seongnam, Gyeonggi [NEWS1]

Naver’s operating profit jumped 10.9 percent on year to 372.7 billion won in April-June period due to improved profitability in the tech giant’s main businesses such as commerce, fintech and content.

The figure was above market estimate of 368.4 billion won compiled by FnGuide.

Quarterly revenue rose 17.7 percent to 2.4 trillion won, in line with the market consensus of 2.43 trillion won.

Net profit skyrocketed 80.9 percent to 286.7 trillion won, surpassing the analysts’ expectations of 233.8 billion won.

BY LEE JAE-LIM [[email protected]]