NHN achieved its highest quarterly performance to date in the third quarter of this year, driven by growth in its cloud and payment businesses. The expansion of AI GPU demand fueled cloud growth, while an increase in overseas merchant transactions also contributed to the results. Additionally, the gaming sector showed double-digit growth compared to the same period last year.
On November 10, NHN announced that its consolidated revenue for the third quarter reached 758.3 billion won, a 21.2% increase from the previous year. Operating profit soared to 58.8 billion won, marking a 112.6% rise during the same period. Both revenue and operating profit are the highest recorded for any quarter.
Growth in the technology segment was particularly notable, with revenue reaching 171.7 billion won, up 53.6% year-on-year and 7.5% from the previous quarter. This growth was attributed to the continued expansion of NHN Cloud's AI graphics processing unit (GPU) business.
The payment segment generated revenue of 397.6 billion won, reflecting a 21.5% increase year-on-year and a 0.9% rise from the previous quarter. The growth was driven by the expansion of transaction volumes at NHN's key subsidiary, NHN KCP. The total payment volume (TPV) for the third quarter reached 17.3 trillion won, a 30.5% increase compared to the same period last year. Notably, overseas merchant transaction volumes surged by 75.4%, accounting for a record 25.3% of total transaction volume.
In the gaming sector, revenue was 131.0 billion won, a 10.7% increase from the previous year, although it decreased by 6.2% from the previous quarter. Revenue from web board games rose by 16.2% year-on-year, benefiting from changes in regulatory environments that led to increased average revenue per user, the effects of the Chuseok holiday in September, and the success of the offline event 'Hangame Poker Tour (HPT).' Notably, 'Hangame Mobile Poker' achieved record monthly revenue for two consecutive months in September and October.
Conversely, revenue from other segments fell to 78.5 billion won, down 12.4% year-on-year and 10.8% from the previous quarter, likely due to ongoing business adjustments related to management efficiency.
* This article has been translated by AI.
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