Line Quarterly Profit, Sales Miss Projections as Growth Slows
- Advertising revenue rose while sales of stamps and games fell
- The company didn’t give a forecast for full-year earnings
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Line Corp. posted its biggest-ever drop as analysts cut ratings after fourth quarter profit and revenue that missed estimates.
The stock finished more than 10 percent lower at 3,755 yen in Tokyo on Thursday, the steepest decline since listing in July. Line’s operating profit of 1.6 billion yen ($14 million) in the three months ended Dec. 31 was less than the 5.34 billion yen average of analysts’ projections compiled by Bloomberg. Sales reached 37.5 billion yen in the period, short of the predicted 38.7 billion yen.