Kakao Pay-Q1 earnings

Kakao Pay turns to loss in Q1

SEOUL, May 2 (Yonhap) -- Kakao Pay Corp. on Tuesday reported its first-quarter net loss of 2.4 billion won (US$1.8 million), swinging from a profit of 3.8 billion won a year earlier.

The company said in a regulatory filing that it continued to post an operating loss of 13 billion won for the January-March period, compared with a loss of 1.1 billion won a year earlier. Revenue rose 14.7 percent to 141.5 billion won.

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