Kakao Pay-Q3 earnings

Kakao Pay remains in red in Q3

SEOUL, Nov. 1 (Yonhap) -- Kakao Pay Corp. on Tuesday reported its third-quarter net loss of 4.7 billion won (US$3.3 million), remaining in the red compared with a year ago.

The company said in a regulatory filing that it continued to post an operating loss of 9.7 billion won for the July-September period, compared with a loss of 1 billion won a year earlier. Sales rose 23 percent to 141.4 billion won.

The operating loss was 6.8 percent lower than the average estimate, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.

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