Naver, a South Korean internet company, said its net profit for April to June rose 41.6% year on year to 704.3 billion won (US$494.8 million), while revenue increased 16.2% to 3.4 trillion won (US$2.37 billion).

Operating profit slipped 0.2% to 520.3 billion won (US$364 million) as investment in AI infrastructure offset growth in Naver’s core commerce and advertising businesses and its global consumer-to-consumer platforms.

Sales at Naver’s search platform business rose 12.3% to 1.9 trillion won (US$1.33 billion). Sales from its financial platform increased 16% to 470.7 billion won (US$329 million), while revenue from global commerce platforms, including Poshmark and Wallapop, grew 24.4% to 1.2 trillion won (US$812 million).

Naver also said it expects new revenue from its AI factory, which it set up with Nvidia, in the first half of next year.

🔗 Source: Yonhap

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