By Kwanwoo Jun

Naver Corp.'s third-quarter net profit rose 37% from a year earlier, led by solid growth in advertisement based on its search platforms, e-commerce and fintech services.

Net profit for the quarter ended September 30 was 322.70 billion Korean won ($274.4 million) compared with net profit of KRW235.30 billion in the same quarter a year earlier, the South Korean internet group said Thursday. That is below a FactSet-compiled consensus forecast for net profit of KRW374.40 billion.

Revenue during the quarter gained 27% on year to KRW1.727 trillion, while operating profit rose 20% on year to KRW349.80 billion.

Naver said all of its business platforms grew during the quarter, with growth accelerating in its digital comic-strip webtoon and other paid-content services globally.

The company has faced mounting regulatory pressure on platform businesses in South Korea recently, as authorities intend to toughen rules to protect online customers.

Write to Kwanwoo Jun at kwanwoo.jun@wsj.com

Corrections & Amplifications

This item was corrected on October 21, 2021 to reflect Naver's 3Q net profit a year ago was KRW235.30 billion, not KRW240.15 billion as indicated in the second paragraph of the original version.

(END) Dow Jones Newswires

10-20-21 1953ET