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[Alpha Biz=(Chicago) Reporter Kim Jisun] Kakao's sales surpassed 2 trillion won for the first time in the second quarter, but its operating profit declined sharply compared to last year.
Kakao announced on the 3rd that its consolidated operating profit in the second quarter of this year was tentatively tallied at 113.5 billion won, down 33.7% from the same period last year.
Net profit fell 44.4 percent to 56.3 billion won.
However, sales reached 2.425 trillion won, up 12.1% from the same period last year, exceeding 2 trillion won in quarterly sales for the first time.
Sales in the platform sector rose 6.2 percent from the same period last year to 988.7 billion won.
During the same period, the sales of Talkbiz (KakaoTalk division) increased 11.0% to 53 billion won, continuing its growth.
On the other hand, sales of portal biz (portal sector business) decreased by 12.6% to 89.5 billion won.
Other platform sales rose 5.7% to 396.3 billion won due to even growth in all business sectors of Kakao Mobility and a rise in Kakao Pay's overseas payment transactions.
In addition, sales in the content sector reached 1.538 trillion won in the second quarter, up 18.2 percent from the same period last year.
Sales in the music and story sectors rose 129.7 percent and 1.5 percent, respectively, to 480.7 billion won and 231 billion won. In the case of the music sector, which has a large increase, the effect of SM Entertainment's consolidation was largely reflected in the profit and loss.
However, sales in the media and game sectors fell 37.7 percent and 20.3 percent, respectively, to 73.5 billion won and 268.6 billion won over the same period.
Operating costs for the second quarter of this year rose 16.8% year-on-year to 1.929 trillion won due to infrastructure investment related to artificial intelligence (AI), data center multiplexing and inclusion of connected companies.
AlphaBIZ 김지선(stockmk2020@alphabiz.co.kr)
