HYBE Reports First-Quarter Loss Despite Revenue Growth

Seoul: South Korea's largest entertainment agency HYBE reported a first-quarter net loss of 156.7 billion won (US$106 million), marking a significant shift from a profit of 54.4 billion won during the same period last year. According to Yonhap News Agency, the company, which represents the globally acclaimed K-pop group BTS, disclosed in a regulatory filing that it experienced an operating loss of 196.6 billion won for the January-March period. This is a stark contrast to the operating profit of 21.6 billion won recorded in the corresponding quarter of the previous year. Despite these losses, HYBE's revenue saw a substantial increase, rising 39.5 percent to reach 698.3 billion won.