Naver’s Q2 Profits Jump 80.9% to 286.7 Billion Won


On Friday, SEOUL-based Naver Corp. reported second-quarter net income of 286.7 billion won (US$220.7 million), an 80.9 percent increase from the same period in the previous year.

In addition, the company’s operating profit for April-June rose 10.9 percent compared to the same period in the prior year, totaling 372.7 billion won. Sales also increased 17.7 percent to 2.4 trillion won.

The results exceeded market expectations. According to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency, the average estimate of net profit was 272.7 billion won.

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