Naver Q2 net profit down 70.7 pct to 158.5 bln won

Naver-Q2 earnings

Naver Q2 net profit down 70.7 pct to 158.5 bln won

SEOUL, Aug. 5 (Yonhap) -- Naver Corp. on Friday reported its second-quarter net profit of 158.5 billion won (US$121 million), down 70.7 percent from a year earlier.

Operating profit for the April-June period was 336.2 billion won, up 0.2 percent from a year ago, the company said in a regulatory filing. Sales rose 23 percent to 2.04 trillion won.

The earnings fell behind market expectations. The average estimate of net profit by analysts stood at 343.3 billion won, according to the survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.

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