Naver reports record profit in Q3

Headquarters of Naver in Seongnam, Gyeonggi [YONHAP]

Naver, Korea's largest internet company, reported record-high third-quarter results on Friday on the back of robust growth in commerce and content businesses. 
 
The Seongnam, Gyeonggi-based company posted its third-quarter net income of 356.2 billion won ($265.2 million), up 53.8 percent from a year earlier.
 
The company said in a regulatory filing that it posted 380.2 billion won in operating profit for the quarter, compared with 330.2 billion won a year ago. Revenue rose 18.9 percent to 2.44 trillion won.
 
The earnings beat market expectations. The average estimate of net profit by analysts stood at 286.2 billion won, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.
 

BY PARK EUN-JEE,YONHAP [park.eunjee@joongang.co.kr]