Kakao-Q4 earnings

Kakao turns to profits in Q4

SEOUL, Feb. 11 (Yonhap) -- Kakao Corp. on Friday reported its fourth-quarter net profit of 219.8 billion won (US$183.7 million), turning from a loss of 195.5 billion won a year earlier.

The company said in a regulatory filing that operating profit for the October-December period fell 27.5 percent on-year to 108.5 billion won. Revenue increased 44.5 percent to 1.78 trillion won.

The operating profit was 30.7 percent lower than the average estimate, according to the survey by Yonhap Infomax, the financial data firm of Yonhap News Agency. The estimate of net profit was not available.

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