[Featured Stock] Naver Hits 300,000 Won... Falls After 1Q Earnings Miss Expectations
[Asia Economy Reporter Hwang Yoon-joo] Naver's stock is falling as its first-quarter earnings fell short of consensus.
As of 9:30 a.m. on the 22nd, Naver is trading at 300,000 KRW, down 3.07% from the previous trading day.
On the previous day, Naver announced that its consolidated first-quarter revenue was 1.8452 trillion KRW, up 23.1% year-on-year, and operating profit was 301.8 billion KRW, up 4.5%. Net profit was 151.4 billion KRW, down 99%.
Operating profit recorded a level 11.65% below the market forecast (341.6 billion KRW). In particular, search platform revenue decreased by 4.9% from the previous quarter to 843.2 billion KRW. The company cited the off-season and rising labor costs as reasons for the slowdown in growth.
Hot Picks Today
Up to 600 Million Won for Semiconductors, 160 Million Won Bonus for Loss-Making Non-Memory… Samsung Electronics Labor and Management Reach Tentative Deal on Unprecedented Performance Compensation (Comprehensive)
- "Could I Also Receive 370 Billion Won?"... No Limit on 'Stock Manipulation Whistleblower Rewards' Starting the 26th
- "From a 70 Million Won Loss to a 350 Million Won Profit with Samsung and SK hynix"... 'Stock Jackpot' Grandfather Gains Attention
- U.S. Stocks Up 1% on War Negotiation Hopes... Will Korea Recover Recent Losses? [Good Morning Market]
- "Who Is Visiting Japan These Days?" The Once-Crowded Tourist Spots Empty Out... What's Happening?
Hwang Hyun-joon, a researcher at DB Financial Investment, explained, "On the cost side, profitability deteriorated due to the impact of one-time expenses such as increased labor costs from wage hikes, continued marketing related to content, settlement of Olympic broadcasting rights, and music costs."
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
