Naver Corp., South Korea’s top Internet portal operator, on Thursday released weaker than expected fourth-quarter earnings, sending its stock price to a one-week low.

Net income came to 134.5 billion won ($124.2 million) in the October-December period, more than doubling from 54.1 billion won a year earlier, the company said in a regulatory filing.

But the fourth-quarter reading was well below the median estimate of 163.2 billion won suggested by South Korea’s nine brokerage houses, according to the data compiled by Yonhap Infomax, the financial news arm of Yonhap News Agency.

Naver said its operating profit reached 196.1 billion won for the fourth quarter of last year, up 30.3 percent from a year earlier, with revenue also increasing 19.3 percent to 750.2 billion won over the cited period.

“The fourth-quarter operating profit consensus was roughly at 220 billion won,” said Joseph Chung, an analyst at NH investment & Securities Co., casting a gloomy outlook over the share price of Naver. (Yonhap)