Kakao's Quarterly Earnings Exceed W1 Trillion

Kakao, Korea's leading messaging app operator, earned a record W1 trillion in sales and posted an operating profit of more than W100 billion in the third quarter of the year (US$1=W1,128).

Kakao said Thursday that sales increased 40.5 percent on-year to W1.1 trillion and operating profit a whopping 103 percent to W120.2 billion.

The bumper earnings were mainly due to its huge success in online shopping business and advertising on KakaoTalk amid the coronavirus lockdown.

Sales hit a new high for the 14th straight quarter and operating profit for the seventh quarter in a row.