Seoul: Naver Corp., South Korea's largest online portal operator, reported a second-quarter net profit of 704.3 billion won (US$494.8 million), marking a 41.6 percent increase from the previous year. This significant rise in net income was disclosed in a regulatory filing by the tech giant on Friday.

According to Yonhap News Agency, Naver's operating profit for the quarter was recorded at 520.3 billion won, slightly down from 521.6 billion won a year ago. However, the company's revenue showed an upward trend, rising 16.2 percent to 3.38 trillion won during the same period.

The reported earnings surpassed market expectations significantly. Analysts, on average, had predicted a net profit of 492.9 billion won, as per a survey conducted by Yonhap Infomax, the financial data firm of Yonhap News Agency.