[Featured Stock] Kakao Rises Despite 1Q Earnings Below Expectations... Recovers to 90,000 Won Range

[Asia Economy Reporter Lee Myunghwan] Despite posting first-quarter results below expectations, Kakao is showing an upward trend shortly after the market opened on the 4th.

As of 9:28 a.m. that day, Kakao was trading at 90,400 won, up 2.15% (1,900 won) from the previous trading day. Based on the closing price, it returned to the 90,000 won level for the first time in six trading days since closing at 90,200 won on the 26th of last month.

Kakao announced on the same day that it recorded consolidated first-quarter sales of 1.6517 trillion won and operating profit of 158.7 billion won this year. These figures represent increases of 31% and 1%, respectively, compared to the same period last year. However, they fell short of market expectations of 1.7479 trillion won in sales and 163.2 billion won in operating profit.

Ahn Jaemin, a researcher at NH Investment & Securities, commented on Kakao's performance this year, saying, "The company continues to show high growth rates and is challenging new growth businesses such as blockchain, mobility, and enterprise. Once the new CEO's growth strategy is reflected, Kakao will quickly establish itself again as an attractive company and stock."

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