Naver’s revenue exceeded 10 trillion won last year.
Naver announced today that its consolidated fourth-quarter revenue was provisionally estimated at 2 trillion 885.6 billion won, a 13.7% increase compared to the same period last year.
The consolidated operating profit was 542 billion won, marking a 33.7% increase compared to the same period last year and a 3.2% rise from the previous quarter.
Last year’s consolidated revenue was recorded at 10 trillion 737.7 billion won, an 11.0% growth compared to the previous year, and the annual operating profit was 1 trillion 979.3 billion won, a 32.9% increase from the previous year.
Naver is the first domestic internet platform company to achieve 10 trillion won in revenue.
Naver first surpassed 5 trillion won in sales in 2018, and has since expanded its business focusing on new ventures, joining the ’10 trillion won revenue club’ in just six years.
Breaking down the fourth-quarter performance by division, the search platform saw a 14.7% increase year-on-year, recording 1 trillion 64.7 billion won in revenue. The annual revenue grew 9.9% from the previous year to 3 trillion 946.2 billion won.
Commerce showed a fourth-quarter revenue of 775.1 billion won, boosted by the launch of the Naver Plus Store and membership partnerships in October last year, reflecting a 17.4% year-on-year increase. Annual sales rose 14.8% to 2 trillion 923 billion won over the previous year.
Fintech’s fourth-quarter sales increased by 12.6% to 400.9 billion won, and the content division reported a 0.2% rise to 467.3 billion won.
The cloud segment’s fourth-quarter revenue stood at 176.6 billion won, a 41.1% increase from the same period last year, influenced by ongoing revenue from the Saudi Arabia digital twin project.
[Photo source: Yonhap News]
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