Kakao-Q4 earnings

Kakao shifts to loss in Q4

SEOUL, Feb. 10 (Yonhap) -- Kakao Corp. on Friday reported its fourth-quarter net loss of 539.3 billion won (US$427.9 million), turning from a profit of 224.1 billion won a year earlier.

The company said in a regulatory filing that it posted 100.4 billion won in operating profit for the quarter, compared with 106.6 billion won a year ago. Sales fell 0.6 percent to 1.77 trillion won.

The loss was 820.5 percent higher than the average estimate, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.

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