Toss's operating profit for the third quarter of this year saw a significant decline compared to the previous year. However, steady growth was observed across various sectors, including financial product brokerage and simple payment services like FacePay.
On November 13, Toss's operating company, Viva Republica, announced that its consolidated operating profit for the third quarter was 18.4 billion won, a 79.0% decrease from 87.8 billion won during the same period last year. This contrasts sharply with the second quarter, which saw a 149.7% increase in operating profit year-on-year, marking a record high for the quarter.
The cumulative operating profit for the third quarter reached 264.6 billion won, reflecting a 9.1% increase compared to the same period last year. During this time, net profit also rose to 238.0 billion won, a 47.3% increase.
Despite the decline in quarterly operating profit, core businesses such as simple payments, financial product brokerage, investment, and electronic payment processing (PG) showed balanced growth, contributing to continued revenue growth.
For the third quarter, consolidated cumulative sales amounted to 2.9179 trillion won, a 51.6% increase from the same period last year. Notably, this figure surpassed last year's total annual operating revenue of 2.6983 trillion won by 219.6 billion won, exceeding the previous year's annual performance within just nine months.
In the third quarter, the single consolidated operating revenue was recorded at 1.0252 trillion won, a 48.7% increase from the previous year, with operating profit at 18.4 billion won. This marks the second consecutive quarter of achieving over 1 trillion won in quarterly sales, following the second quarter's 1.0875 trillion won.
By business segment, the super app service, which encompasses remittances, payments, loan comparisons, tax services, and commerce, generated operating revenue of 2.1132 trillion won, accounting for 72.4% of the total. Meanwhile, the payments network service segment, which includes simple payments, PG, and offline payment terminals (Toss Place), recorded 804.7 billion won, or 27.6% of the total.
A Toss representative stated, "Various financial services within the super app have grown steadily, allowing us to surpass last year's annual revenue early. We will continue to invest in new growth businesses while ensuring sustainable growth based on the profitability of our core operations."
* This article has been translated by AI.
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