Naver posts record profit since 2013 reorganization

Naver posts record profit since 2013 reorganization

CEO forecasts strong growth this yearBy Kim Yoo-chul Kim Sang-hunNaver CEO Strong growth in its overseas and mobile ads businesses strengthened the bottom line of the country’s dominant web portal during the first quarter of this year.Naver said Thursday that its operating profit for the January-March period increased 32.1 percent to 256 billion won, year-on-year.Net profit for the latest quarter came to 165 billion won, while quarterly sales increased 26.6 percent to 937 billion won from the previous year.Both sales and operating profit posted by Naver in the latest quarter set a quarterly record since the company separated its gaming business in 2013 to establish NHN Entertainment.”Overseas business accounted for 36 percent of the total quarterly sales that Naver reported. Naver has so far been consistent in cutting the company’s…


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