Naver's Q2 profit soars as mobile ad revenue grows

Naver Corp., South Korea's largest internet portal, said Thursday its second-quarter net profit jumped 71.8 percent from a year earlier, thanks to a solid gain in mobile ad revenue.

Naver reported a net profit of 213.2 billion won ($189.2 million) for the April-June quarter, compared with a profit of 124 billion won for the same period last year. 

Second-quarter operating profit rose 44 percent on year to 272.6 billion won. Sales gained 26.3 percent to 987.2 billion won, the company said in a regulatory filing.

Advertising accounted for 73 percent of Naver's total sales for the second quarter.

In a statement, Kim Sang-hun, chief executive of Naver, said the company reported "stable revenue growth," helped by growing sales from mobile ads. (Yonhap)