Kakao Q3 net profit down 7.9% to $132.7 mil.
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Kakao’s Pangyo office in Seongnam, Gyeonggi Province / Korea Times file
South Korean internet tech giant Kakao on Thursday reported its third-quarter net income of 177.7 billion won ($132.7 million), down 7.9 percent from a year earlier.
The company that operates KakaoTalk, the country’s dominant messaging app, said in a regulatory filing that operating profit for the July-September period rose 15.5 percent on-year to 240.3 billion won. Sales remained unchanged at 2.08 trillion won.
The earnings fell short of market expectations. The average estimate of net profit by analysts stood at 205.6 billion won, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.
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