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March 29, 2024

Naver’s Q1 net profit jumps 28%

PUBLISHED : April 27, 2017 - 09:55

UPDATED : April 27, 2017 - 09:55

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[THE INVESTOR] Naver said on April 27 that its net profit soared 28 percent in the first quarter from a year earlier.

Net profit reached 211 billion won (US$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.

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 on-year to 290.8 billion won in the first quarter, and sales surged 16 percent to 1.08 trillion won over the cited period, it said.

By Alex Lee and newswires (alexlee@heraldcorp.com)

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