NHN's shares surged over 14% during trading after the company reported second-quarter results that exceeded market expectations.
As of 12:41 PM on August 11, NHN's stock was trading at 47,900 won, up 6,150 won (14.73%) from the previous trading day. The stock opened at 51,400 won and reached a high of 51,500 won during the session, before giving back some gains but still maintaining a strong performance.
The stock's rise is attributed to an 'earnings surprise' announced before the market opened. NHN reported a consolidated operating profit of 57.9 billion won for the second quarter of this year, a 164% increase compared to the same period last year. Revenue for the same period was 757.9 billion won, up 25.3% year-on-year, while net profit rose to 29.1 billion won, a 159% increase.
The improvement in performance was driven by growth in its core payment and technology sectors. Revenue from the payment segment, which includes Payco and KCP, reached 394 billion won, a 27.3% increase from the previous year. The technology segment, which includes AI cloud services, also saw revenue rise to 159.8 billion won, marking a 52.9% increase.
Additionally, the gaming segment reported revenue of 139.6 billion won, driven by growth in both mobile and PC online gaming, representing a 21.5% increase compared to the same period last year.
* This article has been translated by AI.
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