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Naver Q3 operating profit rises 5.6% y-o-y, in line with forecast

[SEOUL] South Korea's top web search operator Naver Corp said on Thursday its third-quarter profit rose 5.6 per cent from a year earlier, in line with expectations.

Naver reported an operating profit of 200 billion won (S$245 million) for July-September, matching the average estimate from a Thomson Reuters I/B/E/S survey of 19 analysts.

Naver said late on Wednesday that it will buy back 185.9 billion won worth of its own shares by January 28, 2016 to stabilise its stock price and boost shareholder value.

REUTERS