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(LEAD) Kakao Q2 net income more than doubles on platform growth

All News 09:48 August 06, 2021

(ATTN: RECASTS throughout with details; ADDS image; CHANGES headline)

SEOUL, Aug. 6 (Yonhap) -- Kakao Corp., South Korea's top online messenger operator, said Friday its second-quarter net income more than doubled from a year earlier on the back of growth of its broader platform and content businesses.

Net profit for the April-June period stood at 315.9 billion won (US$276.2 million) on a consolidated basis, compared with 145.2 billion won the previous year, according to a company statement.

Operating profit rose 66 percent on-year to 162.6 billion won, while sales increased 42 percent to 1.35 trillion won.

(LEAD) Kakao Q2 net income more than doubles on platform growth - 1

The tech giant said sales from its platform business increased 47 percent on-year to 761.8 billion won in the second quarter thanks to growth of its messenger businesses.

Its messenger business reported record-high quarterly sales at 390.5 billion won, up 52 percent on-year, on the back of robust ad services.

Sales from Kakao's content businesses, which include its game, music, webcomic and media units, stood at 590.4 billion won, up 35 percent from the previous year.

Its webcomic and story business logged sales of 186.4 billion won in the April-June period, up 57 percent from the previous year, while sales from its media business more than doubled to 87.4 billion won over the cited period.


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