Naver Q1 net falls 31.3% on FX losses

Naver Corp., South Korea's largest online portal operator, said Thursday its first-quarter net profit fell 31.3 percent from a year earlier, weighed down by foreign exchange losses. Net profit for the three months that ended in March fell to 291 billion won ($195.9 million) from 423.7 billion won in the same period last year, the company said in a regulatory filing. "The decline was largely attributed to increased translation losses on the company's dollar-denominated debt when converted into th

By The Korea Herald