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LINE Corp. returns to black in Q2 on ad pickup

Collected: 2016.07.28

Distributed: 2016.07.29

Source: Go Direct

Chat app Line Corp. owned by Korean portal giant Naver Corp. reported a net profit in the second quarter after losses in the previous two quarters in its first earnings release after dual listing on the Tokyo and New York exchange earlier this month.

In a regulatory filing Wednesday, the Japan-based mobile messaging service said it earned 3.1 billion yen ($29.5 million) in net profit for the second quarter. Its operating profit also returned to the black reaching 8 billion yen in the April - June period compared with a loss of 2.4 billion yen.

Revenue rose 21 percent year on year to 33.85 billion yen on spike in mobile ad sales and game service.

For the full first half, the chat platform with around 220 million monthly active users mostly based in Asia registered 13.37 billion yen in operating profit and revenue of 67.3 billion yen.

The company earned 12.6 billion yen from advertising alone - 37 percent of its total sales - from its main chat platform LINE and value-added services on LINE Timeline and LINE News.

Game is another cash cow. “LINE: Disney Tsum Tsum,” a popular puzzle game featuring Disney characters such as Mickey Mouse, Donald Duck, available for both Android and iOS users have been a steady favorite, exceeding 60 million downloads around the world.

Content segment including games and comics drew in 11.4 billion yen.

A company official said that paid game and digital stickers will continue to bolster profit. The company also expects to add profit from music, mobile pay, and recruitment services.

As of 12:51 p.m. in Tokyo Thursday, the stock was 4,010 yen, down from 4,135 yen in the previous session.

By Hwang Hyung-gyu and Oh Chan-jong

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