Naver’s Earnings Miss Expectations As Line’s Sales Growth Slows

LINE Euro-Americas Corporation

South Korean Internet giant Naver announced quarterly results that fell short of expectations because of weaker performance from the gaming unit of its messaging app Line. This echoes problems faced by Tencent’s WeChat, one of Line’s main rivals, and shows that messaging apps need to find more sources of revenue beyond games.

Naver’s 4Q2014 net income was 134.5 billion won, a 149 percent increase year-over-year, but that missed analysts’ expectations for net income of 163.2 billion won.

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