[EQUITIES] SK Securities sees growth potential for Naver

Published : Jul 29, 2016 - 16:24 Updated : Jul 29, 2016 - 17:12

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[THE INVESTOR] SK Securities said Naver is expected to show solid growth this year on the back of Line’s successful IPO and a number of new money-making projects.

Naver’s webtoon service, which launched overseas two years ago, has more than 18 million monthly users, while video messaging app Snow has more than 40 million users.

In the second quarter, Naver’s operating profit rose 44 percent to 272.7 billion won (US$242.85 million), while sales rose 26.3 percent to 987.3 billion won. Net profit surged 71.8 percent to 213.2 billion won. All figures coincided with the market estimates.

By Kim Ji-hyun (jemmie@heraldcorp.com)