Trending: Naver Delivers Strong Second-Quarter Results
0656 GMT - Naver is one of the most mentioned companies in the news over the past eight hours, according to Factiva data, after it posted strong second-quarter results Friday. Net profit of 286.70 billion won ($220.4 million) was 81% higher than a year earlier, and it exceeded a consensus compiled by FactSet of KRW257.06 billion. The South Korean internet company said it delivered solid growth in the e-commerce, content and fintech segments, while search-platform ad sales grew on year. Display ads declined. Naver said it plans to unveil its new artificial-intelligence model, HyperCLOVA X, for Korean language services, on Aug. 24, a development that analysts said could boost long-term growth. Dow Jones & Co. owns Factiva. (jacques.vanwersch@dowjones.com)
(END) Dow Jones Newswires
August 04, 2023 03:11 ET (07:11 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.-
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