Webtoon: Q2 Earnings Snapshot

LOS ANGELES (AP) — LOS ANGELES (AP) — Webtoon Entertainment Inc. (WBTN) on Monday reported a loss of $15.2 million in its second quarter.

On a per-share basis, the Los Angeles-based company said it had a loss of 11 cents. Earnings, adjusted for stock option expense and non-recurring costs, came to 4 cents per share.

The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 2 cents per share.

The online storytelling platform for comics and cartoons posted revenue of $338.5 million in the period, which fell short of Street forecasts. Four analysts surveyed by Zacks expected $338.8 million.

For the current quarter ending in September, Webtoon said it expects revenue in the range of $358 million to $368 million.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on WBTN at https://www.zacks.com/ap/WBTN