![[표] Naver 2020 4Q and Annual Performance](https://i0.wp.com/image.zdnet.co.kr/2021/01/28/31e56804d162c492e270a4672e24a780.jpg?w=560&ssl=1)
Naver announced on the 28th that it recorded annual sales of 5.34 trillion won and operating profit of 1.2153 billion won last year. This is an increase of 21.8% and 5.2%, respectively, compared to the same period last year.
In the fourth quarter, it recorded sales of KRW 1.5126 trillion and operating profit of KRW 323.8 billion. This is an increase of 11.2% and 11%, respectively. The net income is 3753 billion won.
In the fourth quarter, sales by business division were ▲ 7702 billion won for search platforms ▲ 3168 billion won for commerce ▲ 211.1 billion won for fintech ▲ 138.9 billion won for content ▲ 8856 billion won for cloud
The search platform recorded 7702 billion won, an 8.5% increase from the previous quarter due to the growth of the display. The search platform division’s annual sales were 2.83.1 billion won, an increase of 5.6% from the previous year.
Commerce recorded 316.8 billion won, an increase of 11.0% QoQ, as small business owners (SMEs) settled in the digital environment and grew rapidly through efforts such as zero start-up fees, support for marketing points by growth stage, and expansion of non-face-to-face digital transformation education programs. . The commerce division’s annual revenue was KRW 1.89 trillion, up 37.6% year-on-year. In addition, Naver is supporting SMEs to grow rapidly through various support measures, such as introducing shopping live, which is very effective for large-scale sales and marketing, and providing related education and live infrastructure for free.
Fintech recorded 21.1 billion won, a 15.6% increase from the previous quarter, thanks to the growth of Naver Pay due to the growth of smart stores and the expansion of external partners. The annual sales of the fintech division recorded 677.5 billion won, an increase of 66.6% over the previous year. Naver Financial, which has launched fintech for thin filers and SMEs with no financial history through’smart store operator loan’, is supporting SMEs’ business operations by releasing the world’s fastest settlement service.
Contents recorded 138.9 billion won, an increase of 20.9% QoQ thanks to the global growth of webtoons. The annual sales of the content division was KRW 460.2 billion, a 48.8% increase from the previous year. With the acquisition of Whatpad, Naver plans to further enhance its global competitiveness in the content field by strengthening cooperation with Big Hit following YG and SM Entertainment.
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The cloud recorded 85.6 billion won, a 12.2% increase from the previous quarter on the back of increased cloud demand and the global growth of Lineworks. The annual sales of the cloud division recorded KRW 273.7 billion, up 41.4% from the previous year.
Naver CEO Han Seong-suk said, “It was a year in which we realized meaningful growth with individual creators and SMEs by using Naver’s technology and services in the Corona 19 crisis to solve the difficulties of users caused by disconnection in daily life.” Expanding the ecosystem encompassed by Naver through active R&D, M&A, and alliances, such as further increasing R&D investment of 25% per year focused on developing smart tools based on cutting-edge technologies that enhance the digital competitiveness of creators, users, SMEs, I will constantly challenge to grow with the creators.”