Naver 3Q Operating Profit 349.8 Billion KRW... Record High Performance (Update)

Hansung-sook, CEO of Naver

[Asia Economy Reporter Buaeri] Naver recorded its highest-ever performance driven by growth across all business sectors including commerce, fintech, content, and cloud.

On the 21st, Naver announced that its Q3 revenue reached 1.7273 trillion KRW, with an operating profit of 349.8 billion KRW. This represents a year-on-year growth of 26.9% and 19.9%, respectively, marking an all-time high.

Looking at each business sector, search platform revenue, which includes advertising, increased by 16.2% year-on-year to 824.9 billion KRW.

Commerce revenue rose 33.2% year-on-year to 380.3 billion KRW, driven by growth in Shopping Live, Brand Store, and Smart Store.

Fintech revenue recorded 241.7 billion KRW, growing 38.9% year-on-year thanks to the expansion of external partnerships.

The content sector, including webtoons, also showed strong growth. Content revenue increased 60.2% year-on-year to 184.1 billion KRW.

Cloud revenue rose 26.2% year-on-year to 96.2 billion KRW.

Han Seong-suk, CEO of Naver, said, "In Q3, Naver’s competitiveness stood out through building a win-win ecosystem growing together with users, creators, small and medium-sized enterprises (SMEs), brands, and partners, based on proactive technology investments."

He added, "Recent global intellectual property (IP) collaborations in webtoons and the Smart Store’s expansion into Japan are new global challenges underway, and we plan to continue greater growth on the global stage going forward."