On the 8th, Naver announced that it recorded revenues of 2.9511 trillion won and an operating profit of 521.6 billion won in the second quarter of this year.
Revenues increased by 11.7% and operating profit by 10.3% compared to the same period last year.
The net profit for the period was calculated as 497.4 billion won.
By business segment, the revenues were as follows: Search Platform 1.0365 trillion won, Commerce 861.1 billion won, Fintech 411.7 billion won, Content 474 billion won, and Enterprise 131.7 billion won.
The Search Platform’s revenue increased by 5.9% compared to the same period last year, driven by increased time spent on AI-based new services and feeds, as well as advanced advertising.
Overall advertising on the Naver platform grew by 8.7% compared to the same period last year.
Commerce revenue rose by 19.8% compared to the same period last year, supported by the successful establishment of the Naver Plus Store App and enhanced competitiveness of membership and N-delivery.
The on-platform transaction volume of Naver Commerce saw a 9.0% increase compared to the same period last year, as the transaction volume of Smart Store and services increased in the second quarter.
Fintech revenue rose by 11.7% compared to the same period last year. Naver Pay’s transaction volume in the second quarter increased by 18.7% over the same period, driven by the growth of Smart Store and expansion of the external ecosystem.
Naver Pay plans to expand its business into a platform connecting online and offline finance by launching a terminal supporting various payments for user convenience, including Face Sign, within the year.
Content revenue increased by 12.8% compared to the same period last year, due to the rebound in webtoon growth and an increase in paid subscribers for camera apps.
The Enterprise segment posted a 5.8% increase in revenue compared to the same period last year, driven by growth in public sector revenue and an expansion of paid IDs for Line Works.
Choi Soo-yeon, CEO of Naver, stated, “Going forward, Naver will continue to focus on strengthening platform competitiveness and business capabilities based on AI, while securing new business references for mid-to-long-term growth and laying the groundwork for global expansion.”