NAVER Records KRW 2.7868 Trillion in Revenue and KRW 505.3 Billion in Operating Profit in Q1 2025

NAVER Records KRW 2.7868 Trillion in Revenue and KRW 505.3 Billion in Operating Profit in Q1 2025

- Steady growth across core business sectors … Q1 revenue up by 10.3% and operating profit up by 15.0% year-on-year

May 9, 2025

NAVER Corporation (CEO Choi Soo-yeon, www.navercorp.com) announced that it recorded revenue of KRW 2.7868 trillion, operating profit of KRW 505.3 billion, and adjusted EBITDA of KRW 701.0 billionin the first quarter of 2025.

The consolidated revenue for Q1 increased by 10.3% year-on-year to KRW 2.7868 trillion, driven by solid performance across major business divisions such as Search Platform and Commerce. Adjusted EBITDA increased by 20.7% year-on-year to KRW 701.0 billion. The consolidated operating profit increased by 15.0% year-on-year to KRW 505.3 billion, with an operating profit margin of 18.1%.

Revenue by business division is as follows: ▲Search Platform: KRW 1.0127 trillion, ▲Commerce: KRW 787.9 billion, ▲ Fintech: KRW 392.7 billion, ▲Content: KRW 459.3 billion, and ▲Enterprise: KRW 134.2 billion.

The Search Platform recorded KRW 1.0127 trillion in revenue, an 11.9% increase year-on-year and a 4.9% decrease quarter-on-quarter, because of product enhancements and advanced targeting, as well as layout optimization using AI, which has blurred the lines between ad products, thereby boosting overall ad efficiency and revenue growth. From Q2 onward, NAVER plans to disclose ad performance based on its entire platform.

Commerce revenue rose 12% year-on-year and 1.6% quarter-on-quarter to KRW 787.9 billion, driven by the launch of NAVER Plus Store, improvements to N Delivery, and enhanced membership benefits. In Q1, NAVER Commerce's on-platform transaction volume increased by 10.1% year-on-year, led by growth in Smart Store and service transactions, while commerce advertising revenue reached a record high because of the launch of NAVER Plus Store, layout optimization, and advancements in recommendation ads.

Fintech recorded KRW 392.7 billion, an 11% increase year-on-year and a 2% decrease quarter-on-quarter. In Q1, NAVER Pay's total payment volume reached KRW 19.6 trillion, a 17.4% increase year-on-year, driven by Smart Store growth and ongoing expansions of external ecosystems. NAVER Pay plans to strengthen its competitiveness across various financial service areas, including the securities company simple order service (Web Trading System, WTS) launched in April.

The Content division recorded KRW 459.3 billion in revenue, a 2.9% increase year-on-year and a 1.7% decrease quarter-on-quarter.

The Enterprise division recorded KRW 134.2 billion in revenue, a 14.7% increase year-on-year and a 24.4% decrease quarter-on-quarter, driven by the expansion of paid LINE WORKS IDs. From this quarter onward, the previous "Cloud" division will be renamed the "Enterprise" division in consideration of the characteristics of the business structure.

NAVER CEO Choi Soo-yeon stated, "NAVER continues to strengthen its unique platform competitiveness by connecting proprietary content and data not only to search but also to discovery, exploration, shopping, and places, creating an ecosystem that cannot be easily replaced by AI. We will continue to reinforce our capabilities by elevating user experience and gradually evolving our service and advertising technologies."

[Table] NAVER Q1 2025 Financial Results

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