(Photo= Yonhap news)

 

[Alpha Biz= Reporter Kim Sangjin] On the 8th, Meritz Securities released a report titled "Enhanced Shareholder Returns Needed if Overseas Expansion Is Challenging," lowering Naver's target price by 30,000 won to 260,000 won.

Naver's estimated consolidated revenue for the second quarter stands at 26.371 trillion won, with an operating profit of 4.144 trillion won, down by 500 billion won compared to previous expectations. This adjustment reflects costs related to cash bonuses and IPO expenses associated with the Naver Webtoon listing in June.

Introduced in November, Naver's AI-driven enterprise creation service, NeuroCloud, boosted cloud revenues by 26% compared to Q1, with over 2,100 contracts signed following the Q3 2023 launch of HyperCLOVA X, positioning its annual cloud growth rate on par with global peers.

Naver's commerce division also showed robust growth through AI monetization. Despite a 6.5% decrease in Q2 shopping transaction volume due to declining price comparisons, intermediary and sales revenue is expected to grow by 26% annually. This is driven by the commencement of guaranteed delivery and brand package solution fees starting October 2023, enhancing revenue conversion rates.

 

 

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