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Naver, 3Q operating profit of KRW 330.2 billion… 5.6% decrease compared to the previous year

Despite the growth of Never's sales such as advertising, shopping, fintech, and contents, Never recorded its 3Q operating profit, which was reduced year-on-year due to infrastructure investment and stock compensation costs such as IDC facilities. Never announced on the 7th that it recorded sales of KRW 2.57 trillion and operating profit of KRW 3302 billion in 3Q. Revenue increased 19.1% YoY, but operating profit decreased 5.6%. The sales of each business division include ▲ search platform 896.2 billion won, commerce 458.3 billion won, fintech 296.2 billion won, content of 311 billion won, and cloud and other 94.8 billion won. Search platforms grew 8.0% YoY to W896.2bn, down 1.0% Qom. Search advertisements showed growth over 10%year-on-year. Commerce recorded 19.4% Qom and 4.3% Qom, thanks to commerce advertising, brand stores, and membership subscribers. In July-September, Never shopping transactions amounted to 10.5 trillion won. Fintech recorded 296.2 billion won, an increase...