by Park hyungsoo
Pubilshed 11 Jul.2024 09:10(KST)
Cafe24 is showing strong performance. Securities firms' analysis that it likely achieved the largest operating profit since its listing in the second quarter of this year seems to be influencing its stock price.
As of 9:09 AM on the 11th, Cafe24 is trading at 33,800 KRW, up 1.81% from the previous day.
It is estimated that Cafe24 achieved operating revenue of 74.1 billion KRW and operating profit of 6.2 billion KRW on a consolidated basis in the second quarter of this year. This represents an increase of 1.4% and 250.5%, respectively, compared to the same period last year.
Lee Junho, a researcher at Hana Securities, explained, "Cafe24 likely recorded its highest quarterly operating profit since its listing in the second quarter of this year, thanks to ongoing cost efficiency efforts since last year and steady growth in payment solution sales."
He added, "Cafe24 is expected to achieve operating revenue of 292.3 billion KRW and operating profit of 18.2 billion KRW this year, with sales increasing by 5.1% compared to last year and turning to profitability." He further noted, "This will mark a performance turnaround after four years, and we are slightly revising upward our operating revenue estimates due to the restructuring of YouTube Shopping compared to previous forecasts."
He also forecasted, "Cafe24's GMV this year will reach 12.3873 trillion KRW, a 9.1% increase from last year. The reference built within YouTube Shopping this year is expected to lead to future GMV growth." Additionally, he analyzed, "The collaboration between Cafe24 and YouTube is becoming more visible. Since the restructuring of YouTube Shopping on the 19th of last month, it is possible to open a YouTube-exclusive store without launching a separate company mall through Cafe24."
The researcher added, "It will take time for the heightened expectations for the activation of YouTube Shopping to be confirmed in actual numbers, and meaningful contributions to performance are expected to become more visible next year."
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