Kakao Pay remains in red in Q2

Kakao Pay-Q2 earnings

Kakao Pay remains in red in Q2

SEOUL, Aug. 1 (Yonhap) -- Kakao Pay Corp. on Tuesday reported its second-quarter net loss of 6.2 billion won (US$4.8 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 12.6 billion won for the April-June period, compared with a loss of 12.5 billion won a year earlier. Revenue rose 11 percent to 148.9 billion won.

The operating loss was 30.7 percent higher than the average estimate, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.

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