Naver’s consolidated sales in the third quarter reached KRW 2.7156 trillion, an increase of 11.1% compared to the same period last year and 4.0% compared to the previous quarter, due to the strong performance of the search and advertising business. Adjusted EBITDA increased for 8 consecutive quarters to KRW 699.1 billion, an increase of 27.0% compared to the same period last year and 9.5% compared to the previous quarter. Consolidated operating profit continued to be the largest ever at KRW 525.3 billion, up 38.2% compared to the same period last year and 11.1% compared to the previous quarter, and the operating profit ratio recorded 19.3%, an improvement of 3.8 percentage points compared to the same quarter last year.
Sales by business sector are ▲search platform KRW 997.7 billion ▲commerce KRW 725.4 billion ▲fintech KRW 385.1 billion ▲content KRW 462.8 billion ▲cloud KRW 144.6 billion.
The search platform recorded KRW 997.7 billion, an increase of 11.0% compared to the same period last year and 2.0% compared to the previous quarter, thanks to expansion of stay time and new service space through short form and feed services, improvement of advertising products, and advancement of targeting. Through continuous strengthening of platform competitiveness, search platform sales recovered double-digit growth rates in 10 quarters.
Commerce recorded KRW 725.4 billion, up 12.0% compared to the same period last year and 0.9% compared to the previous quarter. Increased transaction volume due to collaboration with brands, strengthened membership benefits, and improved delivery quality, as well as increased use of brand solution packages and guaranteed arrival, contributed to the growth of commerce sales. Naver plans to continue strengthening its commerce competitiveness by providing users with a hyper-personalized shopping experience and customized benefits tailored to each individual.
Fintech recorded KRW 385.1 billion, a 13.0% increase compared to the same period last year and a 4.5% increase compared to the previous quarter. Naver Pay’s payment amount in the third quarter reached KRW 18.6 trillion, up 22.1% from the same period last year and 6.2% from the previous quarter, as the external ecosystem continued to expand. Offline payment amount increased by 78% compared to the same period last year, thanks to the growth of order and reservation payment amount, including on-site payment.
Content continued its solid growth trend at KRW 462.8 billion, up 6.4% compared to the same period last year and 10.2% compared to the previous quarter. Japan’s Line Manga led paid content sales by recording the highest MAU and paid users of all time.
Cloud continued to grow centered on NeuroCloud and Lineworks, recording KRW 144.6 billion, an increase of 17.0% compared to the same period last year and 16.1% compared to the previous quarter.
Naver CEO Choi Soo-yeon said, “Naver is strengthening search based on AI and data, expanding hyper-personalized services tailored to user interests, and continuing to enhance the platform. “By applying generative AI, we will discover future growth engines and create new business opportunities,” he said.
editor@itworld.co.kr
Source: www.itworld.co.kr
