[Edaily Reporter Lee So-Hyun ] Naver (NAVER(035420)) posted double-digit revenue growth in the third quarter of this year, driven by growth in its commerce, financial services, and global consumer-to-consumer (C2C) businesses. The company extended its growth streak to seven consecutive years as of the third quarter while also setting a new record for quarterly revenue. However, operating profit fell by more than 20% as investments in artificial intelligence (AI) infrastructure, content, and offline data increased.

Naver announced on the 12th that it posted consolidated revenue of 3.4724 trillion won and operating profit of 451.3 billion won for the third quarter of 2026. Revenue increased by 10.7% year-over-year, but operating profit decreased by 20.9%.

Revenue by business segment totaled 1.9484 trillion won for the Naver Platform, 487.7 billion won for the Financial Platform, and 1.0364 trillion won for Global Initiatives.

Establishing a Logistics Subsidiary to Support E-commerce Growth

Revenue from the Naver Platform segment rose 7.3% year-over-year and 2.4% quarter-over-quarter. This growth was driven by advertising revenue and increased purchases through the Naver Plus Store app and membership program.

In particular, service revenue rose 13.1% year-over-year, driven by an increase in users of Naver Plus Store and Membership, as well as the expansion of N Delivery.

Naver is also establishing a separate logistics subsidiary to enhance the delivery competitiveness of its commerce business.

CEO Choi Soo-yeon stated, “To take our delivery competitiveness to the next level, we will establish a specialized logistics subsidiary and gradually strengthen our delivery infrastructure centered on leased logistics centers.” She added, “We will create a commerce ecosystem where sellers, users, and partner companies grow together through a virtuous cycle in which delivery competitiveness drives more transactions, and the increased volume, in turn, further improves efficiency.”

Revenue from the Financial Platform segment reached 487.7 billion won, a 14.1% increase year-over-year. Third-quarter Npay transaction volume rose 15.6% to 26.2 trillion won. External payment volume increased by 21.8%.

Naver Financial aims to expand the deployment of its integrated offline terminal, “Npay Connect,” with the goal of becoming the No. 1 operator in Korea in terms of active terminals by the first half of next year.

AI Factory Secures 2 Trillion Won in Initial Customer Base

Revenue from global growth initiatives reached 1.0364 trillion won, a 15.9% increase year-over-year. This reflects the impact of the WallaPop acquisition, growth in C2C businesses such as Poshmark and Soda, and increased enterprise revenue, including the Saudi Digital Twin project.

Starting in the first half of next year, revenue from the AI Factory project—currently being developed in partnership with Brookfield and NVIDIA—is also expected to be reflected in the company’s financial results.

CEO Choi stated, “As we have secured initial customers by signing a computing services supply contract worth approximately 2 trillion won related to the AI Factory business, revenue from this business is also expected to be generated sequentially.” He added, “While pursuing mid- to long-term contracts with major clients, we plan to expand our customer base to include global AI companies with high growth potential, thereby securing not only stability but also high profitability.”

Agent AI to Launch Within the Year

On the service front, following the launch of AI Briefing and AI Tab, the company plans to release a personalized Agent AI app by the end of the year. The plan is to implement a service that goes beyond simple information searches and recommendations to connect users to actual purchases, visits, and task completion.

CEO Choi emphasized, “The personalized AI agent will go beyond simply allowing users to find the information they need; it will offer new functionality by proactively handling necessary tasks or performing tedious work on their behalf. This will continue the evolution of traditional search while attracting a new user base and creating new monetization opportunities.”