Gmarket Reports Second Quarter 2008 Financial Results
Gmarket reported total revenues of Won 70.0 billion ($66.9 million) for the second quarter of 2008, representing a 26% increase from total revenues of Won 55.6 billion for the second quarter of 2007.
The Company’s gross merchandise value (“GMV”), which represents the total value of all items sold on Gmarket’s website, increased by 25% to Won 971.1 billion ($927.7 million) for the second quarter of 2008 compared to Won 780.0 billion for the same period in 2007. Transaction fee revenues for the second quarter of 2008 were Won 37.4 billion ($35.7 million), representing a 16% increase from Won 32.1 billion for the second quarter in 2007. Advertising and other non-transaction revenues for the second quarter of 2008 were Won 32.6 billion ($31.2 million), representing a 39% increase from Won 23.4 billion for the same period in 2007.
Operating income for the second quarter of 2008 was Won 13.2 billion ($12.6 million), representing an 74% increase from Won 7.6 billion for the same period in 2007.
Net income for the second quarter of 2008 was Won 16.1 billion ($15.4 million), representing a 91% increase from Won 8.4 billion for the same period in 2007. Earnings per diluted share for the second quarter of 2008 increased to Won 317 or, $0.30, up from Won 167 for the same period in 2007.
"We are pleased with our second quarter performance and the progress with our initiatives. We are continuing to strengthen our growth drivers by focusing on emerging categories including food and lifestyle products and developing categories for future opportunities," said Young Bae Ku, Chief Executive Officer of Gmarket. "Through improved operational efficiency and expanding advertising revenue streams, we are continuously increasing our profitability."
During the second quarter of 2008, the Company’s registered user base grew to approximately 14.7 million from 14.3 million registered users at the end of the first quarter of 2008. In addition, the Company averaged 18.7 million monthly unique visitors in the second quarter of 2008, compared to 17.6 million unique visitors during the second quarter of 2007.
About Gmarket
Gmarket Inc. is a leading retail e-commerce marketplace in Korea, offering buyers a wide selection of products at competitive prices and sellers a comprehensive and flexible sales solution. Gmarket’s e-commerce marketplace is highly scalable and facilitates the sale of products in small or large quantities to a large number of potential buyers in a convenient, cost effective and secure manner. Gmarket’s e-commerce marketplace is located primarily at www.gmarket.co.kr.
웹사이트: http://www.gmarket.co.kr
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이 보도자료는 Gmarket Inc.가(이) 작성해 뉴스와이어 서비스를 통해 배포한 뉴스입니다.
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2008년 4월 30일 08:33