By Kwanwoo Jun
Naver Corp. reported second-quarter results on Thursday. Here's what you need to know:
NET PROFIT: The South Korean internet group posted a net profit 90.70 billion Korean won ($76.2 million) compared with net profit of KRW27.80 billion in the same quarter a year earlier.
REVENUE: Second-quarter revenue rose 17% to KRW1.903 trillion, while operating profit gained 80% to KRW230.60 billion.
WHAT WE WATCHED:
--BELOW CONSENSUS: Naver's second-quarter net profit missed a FactSet consensus forecast for net profit of KRW167.31 billion.
--PANDEMIC: Still, solid growth in e-commerce and other expanding online businesses showed the company weathered the Covid-19 pandemic impact relatively well.
--SOLID GROWTH: The quarterly results were driven by the surging demand for online shopping and its expansion of online advertisements, paid content and other business platforms.
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