Kakao Reports Record First Quarter Profit as Payment Division Surges
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Breaking News: Kakao Records All-Time High Q1 Earnings; Operating Profit Up 66% Year-on-Year. Kakao has recorded its highest-ever first-quarter performance. On the 7th, Kakao announced that its revenue for the first quarter of this year reached 1.9421 trillion won, an 11% increase from the same period last year, while its operating profit rose 66% to 211.4 billion won. Revenue
Kakao Reports Record First Quarter Profit as Payment Division Surges
South Korean internet giant Kakao reported a 13.2% year-on-year increase in first-quarter net profit, supported by strong growth in its platform and financial services businesses. The company posted a net profit of 226.8 billion won (US$156.8 million) for the January to March period, according to a regulatory filing, according to Yonhap. Operating profit jumped 66% to 211.4 billion won, while sales rose 11% to 1.94 trillion won. Kakao said both …
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