Kakao Q2 net income up 59.1 pct to 87.1 bln won

Kakao Corp. on Thursday reported its second-quarter net income of 87.1 billion won (US$63.4 million), up 59.1 percent from a year earlier. Operating income for the April-June period was 134 billion won, up 18.5 percent from a year ago, the company said in a regulatory filing. Sales rose 4.2 percent to 2 trillion won. The earnings fell short of market expectations. The average estimate of net profit by analysts stood at 101.5 billion won, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency. Source : Yonhap News Agency