EarningsAdjusted EBITDA missed estimates by 5% as Product Commerce margins fell short, despite solid revenues, on increased spending on technology.
Financial PerformanceHigher operational expenses were the main reason behind the Product Commerce EBITDA miss, with spending approximately US$100 million higher than expected.
Market ConditionsUSD-based revenue could underperform expectations due to steep KRW depreciation against USD amid political uncertainties in Korea.