Daum Q4 net down 59.8 %

Daum Communications Corp., the operator of South Korea's second-most visited portal, said Friday its fourth-quarter net income fell 59.8 percent on-year.

Net profit came to 5.5 billion won ($5.24 million) in the fourth quarter of 2013, compared to the 13.8 billion won posted a year earlier, Daum said in a regulatory filing.

Revenue gained 22.6 percent on-year to 143.7 billion won in the October-December period, while operating profit sank 31.4 percent to 15 billion won over the cited period.

For all of 2013, Daum's net came to 66.1 billion won, down 13.7 percent from the previous year, with its revenue advancing 17.1 percent to 530 billion won and operating profit losing 19.6 percent to 81.7 billion won. (Yonhap)