NHN Q1 net surges 18 pct on higher revenue

SEOUL, May 8 (Yonhap) -- NHN Corp., the operator of South Korea's top Internet
portal Naver, said Friday its first-quarter earnings rose 17.9 percent on
increased revenue from online games.

Net income came to 104.3 billion won (US$82.6 million) in the January-March
period, compared with 88.4 billion won a year earlier, the company said in a
regulatory filing.
Compared with the previous quarter, its net profit was also up 5.6 percent.
Sales climbed 9.2 percent on-year to 322 billion won and operating income also
gained 0.6 percent to 128.3 billion won over the cited period.
NHN attributed the surge in earnings mainly to an increase in online games.
Market watchers expect NHN, dubbed the Google Inc. of South Korea, to sustain its
momentum throughout the year, as Internet-savvy Koreans spend more time on its
Web site to search or play online games, allowing the company to draw more
advertisers.
ygkim@yna.co.kr
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