Naver Q1 2026 Earnings: 16.3% Revenue Growth to KRW 3.24T

SEOUL, South Korea — Naver Corp. reported first-quarter revenue of KRW 3,241.1 billion (US$2.40 billion), a 16.3% increase year-on-year, driven by growth in its core business and consumer-to-consumer segments.

Operating profit rose 7.2% year-on-year to KRW 541.8 billion (US$401.3 million).

The company's operating margin fell 1.4 percentage points to 16.7%, which Naver attributed to higher investments in computing assets.

Net profit declined 31.3% year-on-year to KRW 291.0 billion (US$215.6 million), a decrease Naver said was driven by foreign exchange losses and equity method losses on affiliated companies.

Beginning in fiscal year 2026, Naver reclassified its revenue streams into three segments — Naver Platform, Financial Platform, and Global Opportunities — to separate its core businesses from newer ventures.

The Naver Platform segment recorded revenue of KRW 1,839.8 billion (US$1.36 billion), up 14.7% year-on-year.

Advertising revenue within the segment grew 9.3% to KRW 1,394.5 billion (US$1.03 billion), supported by AI-related gains in ad effectiveness, according to Naver.

Services revenue rose 35.6% to KRW 445.3 billion (US$329.9 million), led by growth in Smartstore gross merchandise value and revenue.

The Financial Platform segment generated KRW 459.7 billion (US$340.5 million) in revenue, an 18.9% year-on-year increase.

First-quarter total payment value reached KRW 24.2 trillion (US$17.93 billion), a 23.4% year-on-year increase that the company attributed to Smartstore growth and expansion into third-party ecosystems.

Global Opportunities revenue rose 18.4% year-on-year to KRW 941.6 billion (US$697.5 million).

The C2C division posted a 57.7% increase to KRW 351.1 billion (US$260.1 million), primarily due to the consolidation of the Wallapop marketplace, according to Naver.

Enterprise revenue grew 18.8% to KRW 150.5 billion (US$111.5 million).

The Contents division reported a 1.4% decline in revenue to KRW 440.1 billion (US$326.0 million).