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Kakao Q2 net income down 68% to W101.2b

Kakao Corp. on Thursday reported its second-quarter net income of 101.2 billion won ($77.2 million), down 68 percent from a year earlier.

The company said in a regulatory filing that operating income for the April-June period rose 5.2 percent on-year to 171 billion won. Revenue increased 34.8 percent to 1.82 trillion won.

The earnings failed to meet market expectations. The average estimate of net profit by analysts stood at 145 billion won, according to the survey by Yonhap Infomax, the financial data firm of Yonhap News Agency. (Yonhap)

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