By Kwanwoo Jun
Naver Corp.'s third-quarter net profit nearly tripled from a year earlier, driven by continuously strong growth in its online-advertisement and e-commerce segments.
Net profit for the quarter ended Sept. 30 was 235.30 billion Korean won ($207.3 million) compared with net profit of KRW85.30 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 KRW180.62 billion.
Revenue during the quarter rose 24% on year to KRW1.361 trillion, while operating profit gained 1.8% on year to KRW291.70 billion.
The company said the pandemic-driven rise in online shopping helped drive solid growth in its e-commerce business, as it is stepping up a partnership with a local parcel-delivery service firm CJ Logistics Corp.
Write to Kwanwoo Jun at kwanwoo.jun@wsj.com
(END) Dow Jones Newswires
10-28-20 1950ET