Kakao Q2 net profit down by nearly 90%
The company's flagship platform division, which includes its ride-hailing service and the Kakao Pay mobile payment service, generated 1.23 trillion won in…
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Summary
The company's flagship platform division, which includes its ride-hailing service and the Kakao Pay mobile payment service, generated 1.23 trillion won in sales, up 17 percent from a year earlier. Kakao's net profit for the April-June period was 18 billion won ($12.6 million), down 89.5 percent from a year earlier, the company said in its regulatory filing. Workers are seen walking inside Kakao Corp.'s headquarters in Pangyo, south of Seoul, in this file photo taken June 29. (Yonhap) South Korean internet tech giant Kakao Corp. saw its net profit fall sharply in the second quarter, but posted the highest quarterly operating profit and sales, the company said Thursday.
Furthermore, The figures include earning results from Kakao Games, which was effectively spun out to Japan's LY Corp. in May. Kakao said it plans to gradually introduce customers to an agentic artificial intelligence (AI) experience across shopping, reservations and other daily tasks, and materialize the service into the company's sustainable growth engine.
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The company's flagship platform division, which includes its ride-hailing service and the Kakao Pay mobile payment service, generated 1.23 trillion won in sales, up 17 percent from a year earlier.
reliability low1/2 sourcesKakao's net profit for the April-June period was 18 billion won ($12.6 million), down 89.5 percent from a year earlier, the company said in its regulatory filing.
reliability low1/2 sourcesSales rose 3.5 percent to 2.09 trillion won.
reliability low1/2 sourcesWorkers are seen walking inside Kakao Corp.'s headquarters in Pangyo, south of Seoul, in this file photo taken June 29. (Yonhap) South Korean internet tech giant Kakao Corp. saw its net profit fall sharply in the second quarter, but posted the highest quarterly operating profit and sales, the company said Thursday.
reliability low1/2 sourcesOperating profit during the cited period was 277 billion won, up 49 percent from a year ago.
reliability low1/2 sourcesThe figures include earning results from Kakao Games, which was effectively spun out to Japan's LY Corp. in May.
reliability low1/2 sourcesKakao said it plans to gradually introduce customers to an agentic artificial intelligence (AI) experience across shopping, reservations and other daily tasks, and materialize the service into the company's sustainable growth engine.
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