Kakao-Q1 earnings
Kakao Q1 net income up 450.6 pct to 1.32 tln won
SEOUL, May 4 (Yonhap) -- Kakao Corp. on Wednesday reported its first-quarter net profit of 1.32 trillion won (US$1 billion), up 450.6 percent from a year earlier.
The company said in a regulatory filing that it posted 158.7 billion won in operating profit for the quarter, compared with 157.5 billion won a year ago. Revenue rose 31.3 percent to 1.65 trillion won.
The earnings exceeded market expectations. The average estimate of net profit by analysts stood at 167.6 billion won, according to the survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.
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