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May 21, 2018

Kakao reports weak earnings in Q1

PUBLISHED : May 10, 2018 - 10:19

UPDATED : May 10, 2018 - 10:22

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[THE INVESTOR] Kakao, operator of Korea’s top mobile messenger KakaoTalk, on May 10 reported a weak performance in the first quarter.

Net profit reached 14.6 billion won (US$13.50 million) in the January-March period, down 73.1 percent from the previous year, the company said in a regulatory filing.

Operating income also plunged 72.9 percent on-year to 10.4 billion won, while sales increased 25 percent on-year to 555.4 billion won.

By Song Seung-hyun and newswires (ssh@heraldcorp.com)

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