Line reduces its losses by 20% until March this year

Billing in the first quarter of the year increased by 6.8%, to 59.220 million yen

The Japanese company Line, which owns the messaging application of the same name, reported net attributable losses of 8,283 million yen (71.5 million euros), equivalent to a 20% decrease in red numbers compared with the same period last year, as reported by the company on Tuesday.

The turnover in the first quarter rose by 6.8%, to 59.220 million yen (511.5 million euros). By business segment, advertising revenue grew 10.7% to 30,044 million yen (259.5 million euros), while revenue from the sale of content in applications increased 4% to 18,810 million yen (162.5 million euros).

The strategic business area, which includes artificial intelligence (AI), e-commerce and payment solutions initiatives, billed 7,114 million yen (61.5 million euros), 3.5% less.

Wage spending grew by 8.8%, to 17,190 million yen (148.5 million euros) while outsourcing and services contracted to other companies accounted for 11,304 million yen (97.6 million euros), 24, 2% more. The cost of payment processing stood at 10,138 million yen (87.6 million euros), 15.2% more, while the impact of amortization and depreciation was 6,670 million yen ( 57.6 million euros).

By March 31, Line registered 165 million monthly active users in its four main markets (Japan, Taiwan, Thailand and Indonesia), one million more. In Japan, the company raised its number of users by four million, to 84 million.

Source: dpa

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