Kakao Delivered Strong 1Q Results, but the Mobile Games Have not Seen Recovery
Kakao released strong first-quarter results with the top line growth beating our estimates and market consensus. The total revenue was up by 83% year over year, while the revenue excluding Loen was up by 28% year over year. The operating margin stood at 8.6%, and the operating margin excluding Loen was 4.9%, versus 8.7% in the same quarter last year and 5.6% in the previous quarter. The higher-than-expected top line growth is largely due to the slower decrease of Daum’s advertising revenue as we...Kakao is engaged in the provision of Internet services to its users and advertisers. Co. provides its owned and operated online properties and services for its users. Co. provides a range of tools and marketing services designed to enable businesses to reach its users for its advertisers.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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