SEOUL, July 31 Naver Corp, South
Korea's leading online portal operator, said on Thursday its
second-quarter profit rose 39 percent from a year earlier,
beating analyst estimates on solid earnings from ad revenue.
The result was likely boosted by its Japan-based messenger
app service Line, which analysts expect to report its biggest
ever quarterly sales later in the day.
Naver reported April-June operating profit of 191.2 billion
Korean won ($186.7 million), compared with a 187 billion won
mean estimate of 26 analysts polled by Thomson Reuters I/B/E/S.
It reported operating profit of 138 billion won a year earlier
and 189 billion won in January-March.
Naver said earlier this month that Line had applied for an
initial public offering in Tokyo. A source told Reuters Line
could be valued at $10 billion to $20 billion and was likely to
launch the IPO in October with a listing, possibly in the United
States, in November.
($1 = 1023.9000 Korean Won)
(Reporting by Joyce Lee; Editing by Stephen Coates and Richard