Naver Reports Stronger-Than-Expected 4Q Earnings, Record 2024 Revenue

By Kwanwoo Jun

South Korean internet giant Naver reported stronger-than-expected earnings in the fourth quarter, led by solid growth at its core search-platform and e-commerce businesses.

The robust quarterly results resulted in record annual revenue for 2024.

Net profit for the October-December period jumped 49% from a year earlier, to 444.10 billion won, equivalent to $307.1 million, the company said Friday. That beat a FactSet-compiled consensus forecast of 414.49 billion won.

Revenue rose 14% year-over-year, to 2.886 trillion won, for the December quarter, and operating profit increased 34%, to 542.00 billion won.

The company's key search-platform advertising business posted 15% on-year growth in revenue for the final quarter of 2024, accelerating from the previous quarter's 11% growth. Revenue from its e-commerce business rose 17% during the period.

For the full year, net profit jumped 89%, to 1.862 trillion won. Revenue increased 11%, to a record 10.738 trillion won, in 2024, with operating profit up 33%, at 1.979 trillion won.

Write to Kwanwoo Jun at kwanwoo.jun@wsj.com