Naver Achieves Record Quarterly Earnings... Annual Revenue Surpasses 6 Trillion Won (Update)

[Asia Economy Reporter Kang Nahum] Naver has achieved its highest quarterly performance ever, surpassing 6 trillion won in annual sales.

On the 27th, Naver announced that its consolidated sales for the fourth quarter of last year reached 1.9277 trillion won, with an operating profit of 351.2 billion won. Sales increased by 27.4% and operating profit by 8.5% compared to the same period last year.

Last year's annual operating revenue grew 28.5% year-on-year to 6.8176 trillion won, and annual operating profit increased 9.1% to 1.3255 trillion won. The annual adjusted EBITDA recorded 1.9146 trillion won, a 22.2% increase from the previous year.

Operating revenue by business segment in the fourth quarter was ▲ Search Platform 886.9 billion won ▲ Commerce 405.2 billion won ▲ Fintech 295.2 billion won ▲ Content 233.3 billion won ▲ Cloud 107.2 billion won.

The Search Platform recorded 886.9 billion won, growing 15.2% year-on-year and 7.5% quarter-on-quarter, driven by improvements in search quality and the revamp of Smart Place. Display revenue within the Search Platform maintained strong growth, increasing 26.1% year-on-year.

Commerce recorded 405.2 billion won, up 27.9% year-on-year and 6.6% quarter-on-quarter, fueled by the growth of Shopping Live and Brand Store. The transaction volume of Shopping Live grew 4.7 times compared to the previous year, and the number of live broadcasts generating over 100 million won in transactions in the fourth quarter increased by 39% quarter-on-quarter.

Fintech recorded 295.2 billion won, up 46.8% year-on-year and 22.1% quarter-on-quarter. Naver Pay's payment amount reached 10.9 trillion won, supported by the addition of new global merchants.

Content recorded 233.3 billion won, growing 67.9% year-on-year and 26.7% quarter-on-quarter, driven by the global growth of webtoons, which surpassed 1 trillion won in annual transaction volume, and the steady growth of Snow and Zepeto.

Cloud recorded 107.2 billion won, up 25.2% year-on-year and 11.4% quarter-on-quarter, supported by new customer acquisitions.

Han Seong-sook, CEO of Naver, said, "By balancing technology investment, mutual growth, and business segments, we have continued steady growth by building a unique business model that can grow together with various partners including SMEs. We will continue to challenge the domestic and global markets together with diverse partners."