Kakao : 2Q Net Profit Jumped on Solid Growth in Talk Biz, Mobile Platforms

By Kwanwoo Jun

Kakao Corp.'s second-quarter net profit jumped nearly fivefold from a year ago thanks to solid growth in its Talk Biz advertisement and other mobile business platforms.

Net profit for the quarter ended June 30 was 145.22 billion Korean won ($122.4 million) compared with net profit of KRW30.99 billion in the same quarter a year earlier, the South Korean internet group said Thursday. That beat a FactSet consensus forecast for net profit of KRW70.11 billion.

Revenue during the quarter rose 30% on year to KRW952.85 billion, while operating profit jumped 142% on year to KRW97.77 billion.

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