Photo = Yonhap news

[Alpha Biz= Reporter Kim Jisun] Naver is expected to surpass 10 trillion KRW in annual revenue for the first time this year, achieving record-breaking performance.

According to FnGuide on Wednesday, Naver's annual revenue and operating profit are projected to reach 10.6421 trillion KRW and 1.9634 trillion KRW, respectively, marking the highest annual figures in its history. The fourth-quarter revenue consensus stands at 2.7899 trillion KRW, with operating profit expected at 526.1 billion KRW, setting new quarterly records as well.

Naver's revenue has nearly doubled over the past five years, growing from 5.3041 trillion KRW in 2020 to 9.6706 trillion KRW last year. Operating profit also improved, increasing from 1.2153 trillion KRW in 2020 to 1.4888 trillion KRW in 2023. Both revenue and operating profit are forecasted to grow further this year.

Naver's performance this year was driven by its core businesses, including the search platform and commerce, with contributions from content, fintech, and cloud services also supporting revenue growth. Next year, Naver plans to leverage AI in key services such as search, advertising, commerce, and maps to further boost profitability. The company recently unveiled new AI-powered services like "AI Briefing," "Naver Plus Store," and "AD Boost (Voost)" during the DAN 24 event last month.

 

 

 

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