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HYBE Posts $998M Quarterly Revenue on BTS Return & Live Tour Surge
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HYBE Co. delivered record financial results in the second quarter of the year, reportedly making them the first K-pop agency to produce over ₩1 trillion (~ $688.6 million USD) in quarterly sales.
The growth comes as their flagship act BTS makes a comeback, thus revitalizing their live touring and physical media consumption.
Revenue, for the three months ending on June 30, increased 105.5% year-over-year to ₩1.45T (~ $998M).
Operating profit rose 159.3% to ₩170.9 billion (~ $117M), outpacing the ₩155B (~ $106M) analyst consensus compiled by Yonhap Infomax by 10.5%.
Additionally, the company’s net profit surged 613% to ₩109.8B (~ $75.7M).