Naver Records Bumper Earnings in Q1

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. / May 09, 2014 12:24 KST