Naver Records Bumper Earnings in Q1

      May 09, 2014 12:24

      Korea's top portal site Naver posted sales of W638 billion and net profit of W128.9 billion in the first quarter of this year, up 23.9 and 17.5 percent from a year ago (US$1=W1,022).

      Thanks to the worldwide success of mobile messaging app Line, Naver's overseas sales nearly doubled compared to a year ago. Overseas sales of W181.3 billion accounted for 28 percent of the total sales.

      Naver CEO Kim Sang-hun said, "Line has drawn over 420 million subscribers around the world, and in 10 countries there are over 10 million users."

      NHN Entertainment, which split from Naver and became a subsidiary in August last year, recorded sales of W152.1 billion and net profit of W15 billion in the first quarter.

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