Naver, Kakao, Content Sales Are Mixed with 'Joy and Sadness'

The results of the third quarter of this year were mixed due to differences in factors such as content sales of Naver and Kakao, Korea's leading platforms.

Naver posted consolidated third-quarter revenue of 2.71 trillion won, up 11.1% year-on-year, and operating profit of 525.3 billion won, up 38.2%.

Operating profit exceeded 500 billion won for the first time, and the operating profit ratio continued to rise for six consecutive quarters.

On the other hand, Kakao's third-quarter revenue, struggling with judicial risks, fell 4% from a year ago to 1.9214 trillion won, while operating profit remained at 130.5 billion won, up 5%.

In particular, in the content sector, Naver's content sales rose 6.4% in a year to 462.8 billion won on the back of sales increases such as Japan's Line Manga, but Kakao's music and story divisions fell 8% and 12%, respectively.

In the platform and commerce sectors, both companies continued to grow, but Naver's growth was greater.