Kakao-Q1 earnings
Kakao Q1 net income up 13.2 pct to 226.8 bln won
SEOUL, May 7 (Yonhap) -- Kakao on Thursday reported its first-quarter net profit of 226.8 billion won (US$156.8 million), up a solid 13.2 percent from a year earlier.
The Korean tech giant said in a regulatory filing that it posted 211.4 billion won in operating profit for the quarter, compared with 105.4 billion won a year ago. Revenue also rose 4.2 percent to 1.94 trillion won.
The earnings beat market expectations. The average estimate of net profit by analysts stood at 168.1 billion won, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.
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