Naver Q3 revenue 34.7 trillion won; operating profit down 20.9 percent on bigger AI investment

Naver reported consolidated third-quarter revenue of 34.7 trillion won and an operating profit of 451.3 billion won, representing a 10.7 percent revenue increase but a 20.9 percent drop in operating profit compared to the previous year. The company stated that the decline in operating profit was driven by increased investments in infrastructure, content, and offline data to secure AI competitiveness. Naver also announced that it secured initial customers by signing a computing service supply contract worth about 2 trillion won related to an AI factory project. Open article →