Seoul: Naver Corp., South Korea's largest online portal operator, on Friday reported its fourth-quarter net income of 164.6 billion won (US$112.5 million), marking a 68 percent decrease from the previous year.
According to Yonhap News Agency, the company's operating profit for the October-December period reached 610.6 billion won, representing a 12.7 percent increase from the same period last year. Additionally, Naver's revenue for the quarter rose by 10.7 percent, totaling 3.19 trillion won.
Despite the increase in revenue and operating profit, Naver's earnings did not meet market expectations. A survey conducted by Yonhap Infomax, the financial data arm of Yonhap News Agency, showed that analysts had anticipated an average net profit of 563.7 billion won.