Shares of WEBTOON Entertainment Inc. (NASDAQ: WBTN) surged 15.09% in the last 24 hours, riding on the back of the company's impressive third-quarter financial results and optimistic guidance for the current quarter.

The global entertainment company, home to some of the world's largest storytelling platforms, reported strong year-over-year revenue growth of 9.5% to $347.9 million in the third quarter of 2024. On a constant currency basis, revenue growth was a robust 13.5%, driven by solid performance across all revenue streams – Paid Content, Advertising, and IP Adaptations – and regions.

WEBTOON's profitability also improved significantly, with adjusted EBITDA rising to $28.9 million, representing an adjusted EBITDA margin of 8.3%, up from 1.0% in the same period last year. The company reported net income of $20 million, a significant turnaround from a net loss of $11.5 million in Q3 2023.

Looking ahead, WEBTOON provided an upbeat outlook for the fourth quarter, forecasting revenue growth on a constant currency basis in the range of 10.3%-13.3% and adjusted EBITDA in the range of $9-$14 million. This positive guidance, coupled with the strong Q3 performance, has fueled investor optimism about WEBTOON's growth prospects, driving the company's stock to new heights.