Line Corp first-half profit jumps 39 percent, boosted by asset transfer

Japan's Line Corp posted a 39 percent jump in first-half profit, boosted by a transfer of assets.

The messaging app operator, which has struggled to grow after a high-profile IPO in 2016, saw operating profit for the six months through June rise to 18.6 billion yen ($166.22 million) from 13.4 billion yen a year earlier.

That was better than an average forecast of around 9 billion yen, according to Thomson Reuters StarMine Smart Estimates.

Line, which is controlled by South Korea's Naver Corp, did not provide a forecast for the current business year, citing a rapidly changing industry.

(REUTERS)