Kakao said on the 6th that on a consolidation basis, second-quarter revenue came to 2.098456 trillion won and operating profit to 277.016 billion won, up 9% and 36%, respectively, from a year earlier. Both revenue and operating profit were the highest ever for a quarter. Second-quarter net profit was 17.98 billion won, down 90% from the same period a year earlier. Kakao classified the related gains and losses as discontinued operations due to the sale of its game business unit composed of Kakao Games and subsidiaries.
The company said the sharp drop in net profit was because "Kakao Games and AXZ were excluded from consolidation, leading to one-off recognition of discontinued operations and corporate tax."
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