[Special Stock] Naver's Q1 'Earnings Shock' Breaks 300,000 Won Level... Hits 52-Week Low

[Asia Economy Reporter Myung-hwan Lee] Naver (NAVER) is showing weakness in the early trading session on the 25th. This is interpreted as a continued impact from first-quarter earnings falling short of expectations.

As of 10 a.m. today, Naver (NAVER) is trading at 294,000 KRW, down 2.00% (6,000 KRW) from the previous trading day. Shortly after the market opened, the price dropped to 291,000 KRW, breaking the 52-week low record.

Naver announced on the 21st that it recorded 1.8452 trillion KRW in sales and 301.8 billion KRW in operating profit for the first quarter of this year. These figures represent increases of 23.1% and 4.5%, respectively, compared to the same period last year. Compared to the previous quarter, sales decreased by 4.3% and operating profit by 14.1%.

However, these results are lower than the market's initial forecasts of 1.8789 trillion KRW in sales and 344.1 billion KRW in operating profit. It is estimated that the seasonal low period in the cloud division contributed to this outcome.

As the first-quarter results fell short of expectations, some securities firms have lowered their target prices for Naver.

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