Kakao Q2 net profit down by nearly 90%

South Korean internet tech giant Kakao Corp. saw its net profit fall sharply in the second quarter, but posted the highest quarterly operating profit and sales, the company said Thursday. Kakao's net profit for the April-June period was 18 billion won ($12.6 million), down 89.5 percent from a year earlier, the company said in its regulatory filing. Operating profit during the cited period was 277 billion won, up 49 percent from a year ago. Sales rose 3.5 percent to 2.09 trillion won. The figures