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Kakao reports forecast-beating Q3 results

2017/11/09 09:07

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By Kim Han-joo

SEOUL, Nov. 9 (Yonhap) -- Kakao Corp., the operator of South Korea's top mobile messenger, KakaoTalk, reported a forecast-beating performance for the third quarter Thursday, apparently helped by robust revenues.

Operating income jumped 57 percent on-year to 47.4 billion won (US$42.5 million) in the July-September period, and sales also soared 32 percent to 515.4 billion won.

The company's third-quarter figures top previous records from second quarter of 2017.

The tally also beat the market consensus of 481 billion won in sales and 43 billion won in operating income, figures estimated by local brokerages in a poll by Yonhap Infomax, the financial news arm of Yonhap News Agency.

Kakao said its third-quarter revenue showed brisk performance for its advertising, games, content and commerce platforms.

Revenues from advertising jumped 19 percent on-year to 151.5 billion won on the back of steady growth by Plus Friend, Biz Message and emoticons.

Content revenue for third-quarter was 261.5 billion won, representing an increase of 32 percent over the year, the company said.

Black Desert Online continued to show strong performance overseas, and the launch of Onmyoji for Kakao led to a rise in game revenue.

In August, the company decided to merge its game business into Kakao Games Corp., a game company under its corporate umbrella, in an effort to boost competitiveness.

khj@yna.co.kr

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