Q2 2025 Naver Corp Earnings Call Transcript

Aug 7, 2025 / 12:00 AM GMT

Release Date Price: $115

Transcript

Key Points

Positve

NAVER Corp (XKRX:035420) reported a 13.3% year-over-year increase in Q2 revenue, driven by solid growth in core businesses such as advertising, commerce, and fintech.
The AI Briefing service has grown significantly, now accounting for 8% of total search queries with plans to expand to 20% by year-end, enhancing user engagement and monetization opportunities.
The company's commerce segment delivered strong results, with the Smart Store and on-platform GMV growing by 10.2% and 9% respectively, supported by the successful rollout of the Neighbor Plus store app.
NAVER Corp's fintech business saw a 18.7% year-over-year increase in TPV, with non-cap payments making up 54% of total payment volume, indicating strong growth in the third-party ecosystem.
The enterprise segment continues to grow, with increasing paid users of Line Works and new AI-related revenue from public sector clients, showcasing NAVER Corp's expanding B2B capabilities.

Negative

Operating margins slightly decreased year-over-year and quarter-over-quarter, standing at 17.9%, due to cost increases despite strong revenue growth.
The enterprise and cloud business growth appears muted, with a slight decline in enterprise revenue quarter-over-quarter, raising concerns about future growth potential in these segments.
Infrastructure costs increased by 15.2% year-over-year, driven by higher depreciation from new GPU and CPU acquisitions, which may impact profitability.
Marketing expenses rose significantly by 31.5% year-over-year, mainly due to strategic spending in commerce and increased promotions in fintech and Webtoon, potentially affecting overall margins.
Concerns were raised about potential cannibalization of revenue with the expansion of AI Briefing, although the company believes it will not impact revenue negatively.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

035420.KS - Naver Corp
Q2 2025 Naver Corp Earnings Call
Aug 08, 2025 / 12:00AM GMT

=====================
Presentation
--------------------------------------------------------------------------------
Unidentified_1 [1]
--------------------------------------------------------------------------------
Good morning.

I am Chau Myung-han from the IR team. I would like to thank the analysts and investors for joining Neighbour's 2025 Q2 earnings presentation. On this call, we're joined by CEO Sun Choi and CFO Heter Kim, and they will walk you through Neur's business highlights and strategies and financial results, after which, we will entertain your questions.

Please note that the earnings results are K IFRS based, provided for timely communications, and have not yet been audited by an independent auditor, and hence are subject to change.

After such review.

With that, I will turn it over to our CEO to present on the business highlights.

Good morning. I am Xuan Choi, the CEO. Recently, the global importance

Already have an account? Log in

Get the full story

Subscribe Now

	Access to All Earning Calls and Stock Analysis
	30-Year Financial on one screen
	All-in-one Stock Screener with unlimited filters
	Customizable Stock Dashboard
	Real Time Insider Trading Transactions
	8,000+ Institutional investors’ 13F holdings
	Powerful Excel Add-in and Google sheets Add-on
	All data downloadable
	Quick customer support
	And much more...

7-Day Free Trial · Cancel Anytime

Subscription fee may be tax deductible.

Excellent

4.6 out of 5

Trustpilot

Research Tools

All-In-One Screener Stock Ideas Stock List Guru List Guru Real-Time Picks Insider List Insider Trades Economic Indicators Sector & Industry Performance DCF Calculator Calculators Discussion Board

Product

Pricing Plans Excel Add-In Google Sheets Add-on Data API Stock Comparison Table Manual of Stocks Instant Alerts Mobile App Newsletters Signup 中文

Education

Financial Glossary Tutorials FAQ Buffett Indicator Shiller P/E Yield Curve Today U.S. Inflation Rate Global Market Valuation Fed Net Liquidity Buffett Assets Allocation

Company

About GuruFocus Career Contact Us Advertise Term of Use Privacy Policy Referral Program Partner Program

Survey

We'd love to learn more about your experiences on GuruFocus.com and how we can improve!

Take Survey

Disclaimers

GuruFocus.com is not operated by a broker or a dealer. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute investment advice or recommendations. The individuals or entities selected as "gurus" may buy and sell securities before and after any particular article and report and information herein is published, with respect to the securities discussed in any article and report posted herein. Gurus may be added or dropped from the GuruFocus site at any time. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute investment advice or recommendations. The information on this site is in no way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes are provided by QuoteMedia, Inc. (CSI). Company fundamental data is provided by Morningstar. Analyst estimates data is sourced from both Refinitiv and Morningstar, with priority given to Refinitiv data. Data is updated daily.