JFrog stock rises as Cantor Fitzgerald maintains Overweight rating after strong Q2
LOS ANGELES - WEBTOON Entertainment Inc. (NASDAQ:WBTN) reported fourth quarter revenue growth, as the digital comics platform continues to navigate currency headwinds. The stock edged up 0.7% following the results.
The company posted revenue of $352.8 million in Q4, up 5.6% YoY. On a constant currency basis, revenue grew 10.4% to $368.9 million. Adjusted loss per share came in at $0.03, compared to earnings of $0.09 per share a year ago.
"2024 was an exciting year for WEBTOON Entertainment as we became a public company, expanding the global influence of our creators and IP," said Junkoo Kim, Founder and CEO. "We’re proud to have delivered strong financial results in 2024 that prove our strategy is working."
For the full year 2024, revenue increased 5.1% to $1.35 billion. On a constant currency basis, full year revenue grew 13% to $1.44 billion.
Looking ahead, WEBTOON Entertainment provided Q1 2025 revenue guidance of $318-328 million, below the $371 million consensus estimate. The company expects Q1 revenue growth of 1.7% to 4.8% on a constant currency basis.
The company ended 2024 with $572 million in cash and cash equivalents and no debt. WEBTOON Entertainment went public in 2024, expanding its global reach as a digital comics and storytelling platform.
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