SEOUL, May 8 (Korea Bizwire) – Thanks to the rising global sales, Naver achieved 638 billion won of sales during the first quarter of this year. Its operating profit and net profit recorded 189.8 billion won and 128.9 billion won, respectively.
Over the same period of the previous year, its operating earnings grew 23.9 percent thanks to overseas sales like its messenger app Line and its operating profit and net profit increased 50.5 percent and 17.5 percent, respectively, with reduction in advertising expenses.
Naver’s sales growth during the first quarter was led by overseas sales. Its overseas sales increased to 181.3 billion won, up 92.6 percent over the same period of the previous year and it contributed 28 percent of its total sales which also increased to 10 percentage points from the previous year’s 18 percent.
By the source of its sales during the first quarter, advertisement sales took the largest share with 477.1 billion won (75%), followed by contents sales (131.5 billion won, 21%) and other sales (29.5 billion won, 4%).
Meanwhile, the sales related to the Line business skyrocketed to 145.2 billion won, up 115.7 percent from the first quarter of 2013.
IR News Team (irkorea@koreabizwire.com)
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