Why LINE Corp. Shares Jumped 16% Today

Shares of Tokyo-based social-media service LINE Corp. (NYSE: LN) soared on Wednesday, rising as high as 16.3% above Tuesday's closing prices before backing down to a 12.5% gain at the closing bell. The company reported third-quarter results in the early morning, showing solid revenue growth.

In the third quarter, LINE's top-line sales increased 18% year over year to land near $374 million. Earnings per diluted share and American depositary receipt stopped at $0.07, down from $0.11 in the year-ago period. Thanks to a strong posting in the second quarter, LINE's year-to-date earnings more than doubled year over year.

Image source: LINE Corp.

Source: Fool.com