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[Alpha Biz=(Chicago) Reporter Kim Jisun] Digital advertising company Incross posted poor results in the third quarter due to the economic recession and delayed recovery of the advertising market.
Incross announced that it recorded sales of 11.378 billion won and operating profit of 3.96 billion won in the third quarter. This is a decrease of 18.4% and 35.1%, respectively, from the same period last year. Net profit fell 24.0% year-on-year to 3.778 billion won.
Incross, an affiliate of SK Square, explained that the performance of the AI (artificial intelligence) curation commerce 'T Deal' jointly operated with SK Telecom was good.
T-deal's third-quarter sales rose 16.5 percent to 2.181 billion won and transactions rose 44.8 percent to 53.498 billion won. The cumulative transaction amount exceeded 160 billion won this year, achieving 50 billion won for the third consecutive quarter.
However, the Media Rep business sector recorded a collection of 86.472 billion won, down 24.6%, as the continuing economic recession affected the delayed recovery of the advertising market. Sales fell 24.5 percent to 7.465 billion won over the same period.
The search advertising business run by its subsidiary MindKnock recorded 11.284 billion won in employment and 1.35 billion won in sales.
Mindknock, which has exceeded 27 billion won this year, will continue to secure new advertisers and strengthen its position in the search advertising market based on the technology of its Adtech subsidiary 'Solution'.
Incross predicted that its performance will begin to recover as advertising campaigns resumed in the third quarter along with the peak season effect of the advertising market in the fourth quarter of this year.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
