By Kwanwoo Jun
Naver Corp. reported third-quarter results on Thursday. Here's what you need to know:
NET PROFIT: The South Korean internet group's net profit for the quarter ended Sept. 30 was 235.30 billion Korean won ($207.3 million), nearly triple the net profit of the same quarter a year earlier.
REVENUE: Revenue during the quarter rose 24% to KRW1.361 trillion, while operating profit gained 1.8% to KRW291.70 billion.
WHAT WE WATCHED:
--ABOVE CONSENSUS: Net profit nearly tripled from a year earlier in the third quarter. That beat a FactSet consensus forecast for KRW180.62 billion in net profit.
--PANDEMIC & E-COMMERCE: Naver's strong quarterly results were largely driven by its online-advertisement and e-commerce segments. The company said that the pandemic-induced rise in online shopping helped drive solid growth in its e-commerce business.
--PARTNERSHIP: The company said it is stepping up a partnership with a local parcel-delivery service company CJ Logistics to bolster growth.
Write to Kwanwoo Jun at email@example.com
(END) Dow Jones Newswires