(Updates with stock movement in the first paragraph.)
Webtoon Entertainment (WBTN) shares rose more than 41% in recent premarket activity Wednesday, after the company reported Q2 revenue that topped analysts' estimates, helped by its partnership with Disney (DIS).
The company also issued a Q3 revenue forecast above estimates.
Meanwhile, Q2 adjusted earnings were $0.07 per diluted share, down from $0.18 a year earlier.
Two analysts polled by FactSet expected a loss of $0.14.
Revenue in the three months ended June 30 rose to $348.3 million from $321 million a year earlier.
Analysts surveyed by FactSet expected 340.6 million.
The company expects Q3 revenue of $380 million to $390 million. Analysts expect $373.3 million.
The announced partnership with Walt Disney intends to introduce comics from Marvel, Star Wars, Disney Studios, and 20th Century Studios to Webtoon Entertainment's mobile vertical-scroll format, Webtoon said.
Price: 13.26, Change: +3.90, Percent Change: +41.67
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