SEOUL: Shares of Naver Corp, South Korea's top Internet portal operator, fell more than 3 percent on Thursday after it announced third-quarter earnings shortly before the opening bell.
"The market was disappointed that earnings were only so-so compared to expectations, especially with many long-term factors driving Naver's momentum seen to have been exhausted at this point," said Lee Jong-won, an analyst at IM Investment Securities Research Center.
Naver reported an operating profit of 189 billion won ($179.2 million) for the July-September period, an 88-percent jump, although falling marginally short of a mean estimate of 201 billion won according to Thomson Reuters I/B/E/S.
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