Naver Q3 net income down 28.2 pct to 231.6 bln won

Naver-Q3 earnings

Naver Q3 net income down 28.2 pct to 231.6 bln won

SEOUL, Nov. 7 (Yonhap) -- Naver Corp. on Monday reported its third-quarter net income of 231.6 billion won (US$163.2 million), down 28.2 percent from a year earlier.

The company said in a regulatory filing that it posted 330.2 billion won in operating profit for the quarter, compared with 349.8 billion won a year ago. Sales rose 19.1 percent to 2.05 trillion won.

The earnings fell behind market expectations. The average estimate of net profit by analysts stood at 298.8 billion won, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.

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