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Companies

Kakao operating profit rises 7% and company plans buyback

Kakao's quarterly operating profit rose 7% on stronger advertising sales. The company also plans a 150 billion won share buyback.

MoneyVision newsroom · Published · South Korea

240.3 billion wonOperating profit
2.09 trillion wonRevenue
150 billion wonShare buyback

Kakao reported a 7% rise in quarterly operating profit on Thursday, helped by advertising sales. Operating profit was 240.3 billion won. That is higher than a year earlier but 13% below the previous quarter's record.

Revenue rose 6% to 2.09 trillion won. The company behind South Korea's popular messaging app plans to expand AI-powered advertising.

Kakao will also buy back 150 billion won ($112 million) of its shares and cancel them.

This article is not investment advice. It was written by our automated newsroom from published reports and official statements, using only the facts in them. How we work · Report a mistake

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