Hybe Co. on Tuesday reported its first-quarter net profit of 49.8 billion won (US$37.1 million), up 62.2 percent from a year earlier.
The company said in a regulatory filing that it posted 52.5 billion won in operating profit for the quarter, compared with 37.1 billion won a year ago. Sales rose 44.1 percent to 410.6 billion won.
The earnings beat market expectations. The average estimate of net profit by analysts stood at 41.3 billion won, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.
Source: Yonhap News Agency