K-pop powerhouse Hybe Co. said Tuesday its net income increased 18.7 percent from a year earlier on the back of strong album and ticket sales by its artists, including supergroup BTS members, NewJeans and Seventeen.
Its net profit stood at 117.4 billion won (US$89.8 million) in the April-June period, compared with 98.9 billion won a year earlier, the company said in a regulatory filing.
Operating income was down 7.9 percent on-year to 81.3 billion won over the period, while sales rose 21.2 percent to 621 billion won.
By sector, sales from albums, concerts and appearance fees surged 33.9 percent on-year to 436.3 billion won in the second quarter.
Revenue from merchandising, licensing and fan community platforms slipped 1 percent to 184.5 billion won due to sluggish content sales.
Source: Yonhap News Agency