LOS ANGELES (AP) — LOS ANGELES (AP) — Webtoon Entertainment Inc. (WBTN) on Tuesday reported a loss of $307.6 million in its fourth quarter.
On a per-share basis, the Los Angeles-based company said it had a loss of $2.36. Earnings, adjusted for asset impairment costs and stock option expense, came to less than 1 cent on a per-share basis.
The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 4 cents per share.
The online storytelling platform for comics and cartoons posted revenue of $330.7 million in the period, which fell short of Street forecasts. Four analysts surveyed by Zacks expected $334.4 million.
For the year, the company reported a loss of $345.9 million, or $2.66 per share. Revenue was reported as $1.38 billion.
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