Elevator Pitch
I maintain my Bullish rating on Korea-listed internet conglomerate Naver Corporation (NHNCF) [035420:KS].
This is an update of my prior article on Naver Corporation published on June 26, 2020. Naver Corporation's share price has increased by +13% from KRW269,500 as of June 25, 2020 to KRW305,000 as of August 14, 2020 since my last update.
Naver Corporation delivered a strong financial performance in 2Q 2020, with revenue and operating profit up +16.7% YoY and +79.7% YoY, respectively in the most recent quarter. It is noteworthy that its ads business grew both on a