On Monday, Kakao Pay Corp. reported a net loss of 8.2 billion won (US$6.3 million) for the third quarter, staying in the red compared to the same period last year.
The company revealed in a regulatory filing that its operating loss for the July-September period was 9.5 billion won, a slight increase from the 9.7 billion won loss a year ago. Revenue, however, rose 12.4 percent to 158.9 billion won.
The operating loss was 27 percent higher than the average forecast according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.
(END)