Seoul: Hybe on Tuesday reported its second-quarter net profit of 109.8 billion won (US$75.1 million), up 613 percent from a year earlier. South Korea's largest entertainment agency made this announcement in a regulatory filing, highlighting its substantial financial growth over the past year.
According to Yonhap News Agency, the company posted an operating profit of 170.9 billion won for the quarter, a significant increase from the 65.9 billion won recorded a year ago. In addition, Hybe's revenue skyrocketed 105.5 percent to reach 1.45 trillion won. Despite these impressive figures, the earnings fell short of market expectations. Analysts, as surveyed by Yonhap Infomax, anticipated a net profit of 121.4 billion won.