Hybe Co. on Wednesday reported its second-quarter net profit of 93 billion won ($70.8 million), up 358.1 percent from a year earlier.
The company said in a regulatory filing that it posted 88.3 billion won in operating profit for the quarter, compared with 28 billion won a year ago. Sales rose 83.8 percent to 512.2 billion won.
The earnings beat market expectations. The average estimate of net profit by analysts stood at 61.7 billion won, according to the survey by Yonhap Infomax, the financial data firm of Yonhap News Agency. (Yonhap)