KaKao

- Kakao’s third quarter revenue totaled 2.16 trillion KRW, with 140.3 billion KRW in operating income

- Consolidated revenue for the third quarter increased 6% QoQ and 16% YoY.

 

[November  9, 2023] Kakao Corporation (CEO Hong Euntaek) reported the company’s third quarter financial results under the Korean-IFRS. Kakao’s revenue for the quarter was 2.16 trillion KRW, a quarter-on-quarter increase of 6% and a year-on-year increase of 16%, an operating income was 140.3 billion KRW, a quarter-on-quarter increase of 24% and a year-on-year decrease of 7%, with an operating profit margin of 6.5%. 

 

Kakao’s revenue for its platform business in Q3 2023 was 1.295 trillion KRW, which is a quarter-on-quarter and year-on-year increase of 4%. 

 

Revenue from the KakaoTalk business continues to grow steadily at 517.7 billion KRW, which is a quarter-on-quarter increase of 3% and a year-on-year increase of 11%. Revenue from KakaoTalk’s ad-type models, including Biz Board and KakaoTalk Channels, decreased 1% QoQ and increased 8% YoY. Revenue from KakaoTalk’s transaction-type models, including Gift and Talk Store, increased 8% QoQ and 15% YoY. Revenue from the portal business decreased 7% QoQ and 24% YoY to 83.2 billion KRW. Due to the increase in the amount of KakaoPay’s global transactions and the steady growth of Kakao Mobility’s overall business, other platform revenue increased 8% QoQ and 5% YoY to 428.5 billion KRW. 

 

Revenue from Content was 1.13 trillion KRW, a quarter-on-quarter increase of 7% and year-on-year increase of 30%. 

 

Revenue from Story increased 8% QoQ and YoY to 249.1 billion KRW due to record-breaking quarterly transactions in Japan and the increase of views in original Korean webtoon IPs, such as Moving. Revenue from Music increased 7% QoQ and 105% YoY to 513.3 billion KRW and revenue from Media was 107 billion KRW, a 45% QoQ and 14% YoY increase. Revenue from Games decreased 2% compared to the previous quarter and 12% from the previous year to 262 billion KRW. 

 

Operating costs for the third quarter of 2023 increased 5% QoQ and 18% YoY to 2.2 trillion KRW.

 

Kakao plans to continue focusing on the business basics by strengthening its business structure to ensure sustainable growth and continuously investing to stably provide convenient and safe services to users.

 

Meanwhile, Kakao paid a total of 49.2 billion KRW in dividends and retired 422.4 billion KRW, or 1.4% of its outstanding shares, over the past two years, and plans to announce a stronger mid-to-long term shareholder return policy in 2024.