Kakao’s Q4 profits drop due to higher costs
Concerns over Kakao’s profitability are on the rise in the market as the profits of the mobile messenger operator nosedived in the October-December period last year. The company said in a regulatory filing on Friday that its net income over the three-month period plunged more than 80 percent year-on-year to 10.2 billion won ($8.5 million) while the firm’s operating income in the same period stood at 20.4 billion won, down 68.8 percent from a year earlier. The quarterly revenue came [...]