Naver’s Q3 OP down 20.9% on rising AI infrastructure costs

Resumen detallado

Naver Corp. posted record quarterly revenue in the third quarter, while operating profit fell 20.9 percent as the company increased investment in artificial intelligence (AI)…

Naver Corp. posted record quarterly revenue in the third quarter, while operating profit fell 20.9 percent as the company increased investment in artificial intelligence (AI) infrastructure.

The company said Thursday that it posted revenue of 3.47 trillion won ($2.6 billion) and operating profit of 451.3 billion won for the July-September period. Revenue rose 10.7 percent from a year earlier, surpassing the previous quarterly record of 3.39 trillion won set in the second quarter, driven by higher advertising sales and increased purchases on Naver Plus Store.

Revenue from Naver’s platform business rose 7.3 percent to 1.95 trillion won. The company plans to establish a logistics subsidiary and expand related infrastructure, including leased distribution centers, to strengthen its shopping and delivery services.

Revenue from its financial business increased 14.1 percent to 487.7 billion won, supported by growth in Naver Pay transactions. Payment volume reached 26.2 trillion won.

Revenue from Naver’s global expansion segment rose 15.9 percent to 1.04 trillion won, supported by the addition of Spanish secondhand marketplace Wallapop SL and higher transaction volumes on U.S. resale platform Poshmark Inc.

In Saudi Arabia, Naver plans to begin outdoor robot deliveries in Riyadh in the first half of next year, using its Nuri robots to serve residential complexes. The company plans to combine local digital twin data with its robotics technology to develop delivery services suited to the country’s climate, where summer temperatures often exceed 40 degrees Celsius.

Naver also plans to launch an AI agent app by the end of this year, expanding its existing AI Briefing and AI Tab services. The agents will assist users with search and shopping and could help attract new user groups and create monetization opportunities, Chief Executive Choi Soo-yeon said.

Inicio del artículo, extracto de Pulse (Maeil Business). Para leer el resto, abra el artículo en el sitio del medio.