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Naver’s Q3 operating profit hits all-time high

Posted October. 22, 2021 07:31,   

Updated October. 22, 2021 07:31


Naver has posted a record-high profit in the third quarter of this year. The nation’s major portal announced Thursday its sales at 1.72 trillion won and operating income at 349.8 billion won during the period. Sales rose by 26.9% and operating income 19.9% year-on-year, respectively, reaching the highest level since the foundation of the company.

By category, the sales of content jumped 60.2% on-year to 184.1 billion won. In particular, the webtoon division saw its sales soar by 79% thanks to the strong growth in global market. Sales of commerce rose 33.2% to reach 380.3 billion won year-on-year thanks to the growth of Shopping Live and Smart Store businesses. Naver also announced that Smart Store will make inroads into the global market in earnest, hosting business owners in Japan under the “My Smart Store” initiative.

“In the third quarter, we witnessed a pronounced competitive edge in fostering an environment to grow together with various partners,” said Naver CEO HAN Seong-sook. “Our plan is to expand our growth into global stage.”

Do-Hyong Kim dodo@donga.com