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Webtoon Entertainment Q1 Adjusted Earnings Rise, Revenue Falls; Shares Drop After Hours

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Webtoon Entertainment (WBTN) reported Q1 adjusted earnings late Monday of $0.07 per diluted share, up from $0.03 a year earlier.

Three analysts polled by FactSet expected a loss of $0.05.

Revenue in the three months ended March 31 fell to $320.9 million from $325.7 million a year earlier.

Analysts surveyed by FactSet expected $321.6 million.

The company expects Q2 revenue of $332 million to $342 million. Analysts polled by FactSet expect $348 million.

Webtoon's shares slumped 16% in after-hours trading.

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