Actionable news
All posts from Actionable news
Actionable news in LN: LINE Corp,

UPDATE 1-Line Corp swings to third quarter net profit of 2.4 bln yen

* Line Q3 net profit 2.4 bln yen vs 2.3 bln loss

* Revenue up 12.6 pct yr-on-yr

* New platform helps ad sales rise 66 pct (Adds details, Q3 net profit and revenue calculations)

By Thomas Wilson

TOKYO, Oct 26 Japanese messaging app operator Line Corp said on Wednesday net income swung to profit in the third quarter, as advertising sales increased after it introduced a new platform in June for hosting digital ads.

Line, which raised $1.3 billion in the world's biggest tech IPO this year, has said it is strongly positioned in its four core markets - Japan, Taiwan, Thailand and Indonesia - although it has marketed itself as delivering steady returns rather than explosive growth.

Line, which derives most of its income from mobile games and sales of cartoon emoticons called "stickers," reported a net...