Kakao Pay (377300) Q4 2023 earnings summary

Executive summary

• FY23 revenue KRW 7,557,002 million vs KRW 6,799,048 million in FY22; operating profit KRW 460,858 million vs KRW 569,356 million.

• Q4 revenue KRW 1,998,506 million, up 17.9% YoY and down 0.6% QoQ; operating profit KRW 160,866 million, up 61.4% YoY.

Financial highlights

• FY23 operating expenses KRW 7,096,144 million vs KRW 6,229,692 million in FY22.

• Q4 operating profit rose to KRW 160,866 million from KRW 124,309 million in Q3; operating margin increased to 8.0% from 6.2%.

Segment performance

• FY23 Platform revenue KRW 3,554,442 million vs KRW 3,462,565 million in FY22.

• FY23 Content revenue KRW 4,002,560 million vs KRW 3,336,483 million in FY22.