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HYBE |
[Alpha Biz= Reporter Kim Minyoung] On August 7th, HYBE announced that its Q2 revenue reached a record 640.5 billion won, marking the highest quarterly revenue to date. This represents a 3.1% increase compared to the same period last year, surpassing the previous record of 621 billion won set in Q2 of the previous year.
For the first half of the year, HYBE achieved a total revenue of 1.01 trillion won, maintaining its streak of surpassing 1 trillion won in semi-annual revenue for the second consecutive year. This achievement is notable despite the absence of group activities from BTS, who are currently fulfilling their military service obligations.
However, the company's Q2 operating profit decreased by 37.4% to 50.9 billion won, and net profit fell by 85.9% to 16.5 billion won. HYBE attributed the decline to the initial costs associated with launching various new businesses and expanding its lineup of new artists. The company anticipates improved profitability starting in Q3, driven by upcoming domestic and international activities by its artists.
In Q2, revenue from directly participatory activities, including album sales and streaming, amounted to 423.9 billion won, contributing significantly to the overall performance.
Alphabiz Kim Minyoung (kimmy@alphabiz.co.kr)
