[Market Focus] Kakao Falls Over 3% on Disappointing Q1 Results

Kakao is experiencing a decline following disappointing first-quarter results this year.

As of 9:15 a.m. on May 8, Kakao was trading at 37,100 won on the Korea Exchange, down 1,250 won (3.26%) from the previous day.

On this day, Kakao announced that its consolidated revenue for the first quarter of this year was 1.8637 trillion won, a 6% decrease compared to the same period last year. Operating profit was 105.4 billion won, down 12%. Revenue from the platform segment was approximately 993 billion won, up 4% from the same period last year, while the content segment recorded 870.7 billion won, a 16% decrease.