Transaction Volume Reaches 44.2 Trillion Won
Subsidiaries Show Improved Performance
Kakao Pay achieved a turnaround to profitability on a consolidated basis in the first quarter.
On May 7, Kakao Pay announced that it posted a consolidated operating profit of 4.4 billion won in the first quarter, returning to profitability.
Revenue reached 219.9 billion won, up 20.2% year-on-year, while net profit for the period surged approximately 85 times to 14.4 billion won over the same period.
The total transaction volume for the first quarter was 44.2 trillion won, an 8% increase compared to the same period last year. The transaction volume contributing to revenue also rose 7% year-on-year to 12.8 trillion won.
On a separate basis, the accumulated deficit, which had reached the 200 billion won range at the end of 2021, turned positive for the first time, recording a retained earnings surplus of 20.7 billion won.
Subsidiaries also showed improved performance.
Kakao Pay Securities' revenue increased 58% year-on-year, achieving a profit for the second consecutive quarter. Quarterly stock transaction volume grew 54% over the same period, surpassing 18 trillion won for the first time.
A Kakao Pay representative stated, "All business areas, including payment, financial, and other services, grew evenly, with financial services and other services driving overall growth."
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