Key Summary
- Naver reported third-quarter consolidated revenue of 3.4724 trillion won and operating profit of 451.3 billion won.
- Revenue rose 10.7% from a year earlier, while operating profit fell 20.9% as AI-related spending increased.
- Growth was driven by commerce, financial services, and global C2C operations.
- Naver said it plans to launch a personal AI agent app within the year and expects AI business revenue to begin contributing more meaningfully next year.
Main Story
Naver said its third-quarter results reflected higher spending tied to artificial intelligence initiatives, even as several core businesses continued to expand. The company posted 3.4724 trillion won in revenue for the period and 451.3 billion won in operating profit.
According to the company, consolidated revenue increased 10.7% year on year, but operating profit dropped 20.9% because of heavier investment in AI infrastructure, content, and offline data. In its business segments, Naver Platform generated 1.9484 trillion won, Financial Platform 487.7 billion won, and Global Challenge 1.0364 trillion won.
Revenue from Naver Platform rose 7.3% from a year earlier. Within that segment, service revenue grew 13.1%, supported by more users of Naver Plus Store and membership services as well as stronger N Delivery operations. The company also said it will establish a logistics subsidiary to strengthen its commerce capabilities and expand delivery infrastructure around leased logistics centers.
Naver CEO Choi Soo-yeon said the company aims to create a virtuous cycle in which stronger delivery competitiveness increases transaction volume and higher volume improves efficiency.
Financial Platform revenue increased 14.1% year on year. Npay payment volume in the third quarter reached 26.2 trillion won, up 15.6% from a year earlier, while external payment volume climbed 21.8%. Naver Financial plans to expand its offline integrated terminals, Npay Connect, with the goal of becoming the domestic market leader by the first half of next year based on active terminals.
The Global Challenge segment reported revenue of 1.0364 trillion won, a 15.9% increase. Naver said the result was helped by the inclusion of Wallapop, growth in C2C services such as Poshmark and Soda, and its digital twin project in Saudi Arabia.
Looking ahead, the company said AI business revenue is expected to contribute more significantly from next year. Naver said it has secured an initial customer through a computing services supply contract worth about 2 trillion won in its AI Factory project with Brookfield and Nvidia. Choi said revenue from the AI Factory business is expected to start coming in gradually from the first half of next year, and that Naver will seek long-term contracts with large clients while expanding its customer base among global AI companies.
Naver also said it plans to release a personal AI agent app by the end of this year, following its AI Briefing and AI Tab offerings. The company said it intends to extend its services beyond search and recommendations to actual purchasing, visits, and task execution. Choi said the personal AI agent will offer new user functionality by anticipating needs or handling cumbersome tasks, while also creating new monetization opportunities.
Background
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Items Requiring Further Verification
- The company’s statement that AI-related spending caused the decline in operating profit is attributed to Naver and was not independently substantiated in the text.
- Plans to launch a personal AI agent app, expand logistics infrastructure, and become the domestic leader in active Npay Connect terminals are forward-looking statements.
- The projected timing of AI Factory revenue beginning in the first half of next year is a forecast, not a confirmed result.
- Claims about the impact of Wallapop, Poshmark, Soda, and the Saudi digital twin project on segment performance are company-reported attributions.
- No specific items were identified from the supplied text, but independent editorial verification is still recommended.