Kakao Q3 net profit down 84.2 pct to 137.2 bln won

Kakao-Q3 earnings

Kakao Q3 net profit down 84.2 pct to 137.2 bln won

SEOUL, Nov. 3 (Yonhap) -- Kakao Corp. on Thursday reported its third-quarter net income of 137.2 billion won (US$96.8 million), down 84.2 percent from a year earlier.

The company said in a regulatory filing that it posted 150.3 billion won in operating profit for the quarter, compared with 168.2 billion won a year ago. Revenue rose 6.8 percent to 1.85 trillion won.

The earnings exceeded market expectations. The average estimate of net profit by analysts stood at 126.7 billion won, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.

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