Naver Surpasses 6 Trillion Won in Sales... "A Step Forward with New Businesses" (Update)

Operating Profit of 710.1 Billion KRW Last Year... 24.7% Decrease Compared to Previous Year

[Asia Economy Reporter Jin-gyu Lee] Naver surpassed annual sales of 6 trillion won last year, achieving its highest-ever performance.

On the 30th, Naver announced that its sales last year reached 6.5934 trillion won, an 18% increase compared to the previous year.

Last year's operating profit was 710.1 billion won, a 24.7% decrease from the previous year. Net profit was 396.8 billion won.

Sales in the fourth quarter of last year recorded 1.7874 trillion won, a 17.9% increase compared to the same period last year, while operating profit was 173.4 billion won, down 18.7%.

Sales by business segment in the fourth quarter were ▲Advertising 171.8 billion won ▲Business Platform 746.5 billion won ▲IT Platform 136 billion won ▲Content Service 69.9 billion won ▲LINE and Other Platforms 663.2 billion won.

The advertising segment recorded 171.8 billion won, a 10.7% growth compared to the same period last year, thanks to improvements in mobile advertising product competitiveness. Annual sales were 633.3 billion won, a 10.5% increase from the previous year.

The business platform segment recorded 746.5 billion won, a 13.4% increase compared to the same period last year, driven by solid growth in shopping search advertising. Annual sales were 2.851 trillion won, a 15.2% growth compared to the previous year.

The IT platform segment recorded 136 billion won, a 28.9% increase compared to the same period last year, supported by the continuous growth of Naver Pay. Annual sales were 457.5 billion won, up 28.6% from the previous year.

The content service segment recorded 69.9 billion won, a 118.6% increase compared to the same period last year, fueled by the global growth of webtoons and V LIVE. Annual sales grew 66.6% year-on-year to 209.5 billion won.

The LINE and other platforms segment recorded 663.2 billion won, a 17.3% increase compared to the same period last year. Annual sales reached 2.4421 trillion won, an 18.8% increase from the previous year.

Han Seong-sook, CEO of Naver, said, "Naver will continue to strengthen the competitiveness of its domestic business and, based on this, leverage new business opportunities emerging in the US and Japan to create a stepping stone for further growth."

This content was produced with the assistance of AI translation services.