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Kakao's Q2 net edges down 5.6 pct

2017/08/10 08:18

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SEOUL, Aug. 10 (Yonhap) -- Kakao Corp., the operator of South Korea's top mobile messenger KakaoTalk, on Thursday said its second-quarter net profit moved down 5.6 percent.

Net profit reached 12.5 billion won (US$10.9 million) on a consolidated basis in the April-June period, compared with 13.2 billion won the previous year, the company said in a regulatory filing.

Operating income surged 67.7 percent on-year to 44.6 billion won, and sales rose 24.4 percent to 468 billion won.

The net profit fell below 25.8 billion won, which was estimated by 32 brokerage houses, compiled by Yonhap Infomax, the financial arm of Yonhap News Agency.

Shares of Kakao closed 2.25 percent lower at 108,500 won on the main bourse Wednesday. The second-quarter report was released before the market opened Thursday.