Kakao : 3Q Net Profit Nearly Triples

By Kwanwoo Jun

Kakao Corp.'s third-quarter net profit nearly tripled from a year earlier thanks to strong growth in its online advertisement, e-commerce and other new business platforms.

Net profit for the quarter ended Sep. 30 was 143.73 billion Korean won ($127.2 million), compared with net profit of KRW51.45 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 KRW88.99 billion.

Revenue during the quarter rose 41% on year to KRW1.100 trillion, while operating profit doubled from a year ago to KRW120.22 billion.

Write to Kwanwoo Jun at [e-mail]

(END) Dow Jones Newswires

11-04-20 1842ET