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Naver Q4 net income down 59.1 pct to 122.6 bln won

Earnings 07:39 February 03, 2023

SEOUL, Feb. 3 (Yonhap) -- Naver Corp. on Friday reported its fourth-quarter net income of 122.6 billion won (US$100.5 million), down 59.1 percent from a year earlier.

The company said in a regulatory filing that operating income for the October-December period fell 4.2 percent on-year to 336.5 billion won. Revenue increased 17.8 percent to 2.27 trillion won.

The earnings fell short of market expectations. The average estimate of net profit by analysts stood at 253.7 billion won, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.

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