Kakao Pay turns to red in Q4
An image promoting Kakao Pay is seen in this undated photo. Korea Times file
Kakao Pay on Tuesday reported its fourth-quarter net loss of 8.4 billion won ($6.3 million), turning from a profit of 33.4 billion won a year earlier.
The company said in a regulatory filing that it continued to post an operating loss of 21.5 billion won for the October-December 2023 period, compared with a loss of 22.3 billion won a year earlier. Sales rose 35.2 percent to 166.1 billion won.
The operating loss was 35.7 percent higher than the average estimate, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency. (Yonhap)