Kakao Corp. on Thursday reported its second-quarter net income of 56.3 billion won (US$43.3 million), down 44.4 percent from a year earlier.
The company said in a regulatory filing that it posted 113.5 billion won in operating profit for the quarter, compared with 171 billion won a year ago. Revenue rose 12.1 percent to 2.04 trillion won.
The earnings fell behind market expectations. The average estimate of net profit by analysts stood at 93.8 billion won, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.
Source: Yonhap News Agency