[Featured Stock] Kakao's Stock Declines Amid Disappointing Performance
Kakao's stock price is showing weakness as it released first-quarter results that fell short of market expectations.
As of 9:15 a.m. on the 4th, Kakao is trading at 56,600 won, down 1,700 won (2.92%) from the previous day.
![[Featured Stock] Kakao's Stock Declines Amid Disappointing Performance](http://www.asiae.co.kr/news/img_view.htm?img=2022111417171416194_1668413834.jpeg)
This is interpreted as an impact of the earnings. Kakao recorded sales of 1.7403 trillion won and an operating profit of 71.1 billion won in the first quarter. Compared to the same period last year, sales increased by 5.4%, but operating profit was reduced to about half.
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These figures fall short of market forecasts. According to financial information firm FnGuide, securities firms expected Kakao to record an operating profit of 122.7 billion won in the first quarter.
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