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(LEAD) Kakao's Q2 net jumps nearly 5 times on robust platform, e-commerce businesses

All News 08:54 August 06, 2020

(ATTN: UPDATES throughout with details; CHANGES headline; ADDS photo)
By Kim Han-joo

SEOUL, Aug. 6 (Yonhap) -- Kakao Corp., the operator of South Korea's top mobile messenger KakaoTalk, said Thursday its second-quarter net profit jumped nearly five times from a year earlier on the back of robust revenue from its platform and e-commerce businesses.

Net profit reached 145.2 billion won (US$122.2 million) in the April-June period on a consolidated basis, compared with 31 billion won a year earlier, the company said in a regulatory filing.

The corporate logo of Kakao Corp. (Yonhap)

Sales jumped by 39 percent on-year to reach a quarterly high of 952.9 billion won over the cited period, and its operating income rose 141.7 percent on-year to a quarterly high of 97.8 billion won over the cited period, it said.

Kakao said it enjoyed a brisk performance in both its platform and e-commerce businesses.

Kakao said the revenue from its platform business surged by 51 percent on-year to 492.7 billion won over the cited period thanks to the steady growth of Biz Message and Talk Biz.

Revenue from the content business also expanded by 13 percent on-year to 460.2 billion won.


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