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Naver earnings up 9.1 pct in Q4

All News 07:18 January 28, 2016

By Kang Yoon-seung

SEOUL, Jan. 28 (Yonhap) -- Naver Corp., South Korea's top Internet portal operator, said Thursday its fourth-quarter earnings advanced 9.1 percent on-year on the back of strong overseas business.

Net profit came to 141.5 billion won (US$118 million) in the October-December period, compared with the 129.6 billion won a year earlier, Naver said in a regulatory filing.

Sales soared 19.2 percent to 890 billion won, with operating profit moving up 5 percent to 203.6 billion won.

For all of 2015, net profit came to 517 billion won, up 14.4 percent from a year earlier. Its revenue jumped 17.9 percent on-year to 3.25 trillion won, while the operating profit edged up 0.5 percent to 762.2 billion won.

The annual results came in line with the market consensus. Local brokerage houses estimated an operating profit of 784.2 billion won, along with sales of 3.24 trillion won.

Shares of Naver edged down 0.88 percent to 674,000 won Wednesday, when the market advanced 1.4 percent. The fourth-quarter earnings report was released before the market opened Thursday.


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