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NHN Q3 net jumps 29 pct on higher ad revenue

SEOUL, Oct 30, 2009 (Asia Pulse Data Source via COMTEX) --

Company: NHN Corp (NHNCF)

NHN Corp., South Korea's largest Internet portal operator, said Thursday that its third-quarter earnings rose 29 percent from a year earlier on a recovery in online advertisement revenue.

Net profit stood at 106.8 billion won (US$90.7 million) in the July-September period, compared with 83 billion won a year ago, the company said in a regulatory filing.

Sales, however, fell 1 percent from a year earlier to 290.8 billion won, while operating profit gained 15 percent to 128 billion won, the company said.

NHN, which has portal Naver and biggest online game site Hangame, said the surge in third-quarter earnings resulted from increased ads amid an economic recovery.

Search and banner ads rose 10 percent from a year ago, while sales from its game sector climbed 23 percent, the company said.

Copyright (C) 2009 Asia Pulse Data Source. All rights reserved

News Provided by COMTEX

Company: NHN Corp (NHNCF)


Related terms: earnings, internet, net profit, online, revenue, sales, south korea

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