Kakao reports weak earnings in Q1
[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 (email@example.com)