Kakao Corp., the South Korea-based operator of messaging app KakaoTalk, said in a regulatory filing on August 6 that its second-quarter net profit fell 89.5% year on year to 18 billion won, or about US$12.6 million.

For the April to June period, operating profit rose 49% year on year to 277 billion won (US$194 million).

Sales increased 3.5% to 2.1 trillion won (US$1.46 billion).

The company’s net profit missed analysts’ expectations.

Analysts surveyed by Yonhap Infomax, the financial data firm of Yonhap News Agency, had forecast average net profit of 178.6 billion won (US$125 million).

🔗 Source: Yonhap

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