HYBE posts record quarterly results as BTS tour lifts revenue

K-pop giant HYBE reported record third-quarter revenue and operating profit Tuesday, propelled by BTS' ongoing world tour, putting it on track to become the first K-pop agency to surpass 4 trillion won ($2.98 billion) in annual revenue. According to its regulatory filing, the company's preliminary revenue for the July–September period jumped 109.8 percent year-on-year to 1.53 trillion won on a consolidated basis. Operating profit swung to 188.5 billion won from an operating loss of 42.2 billion won a year earlier, while net profit also returned to the black at 11.3 billion won. HYBE said both revenue and operating profit marked the highest quarterly figures in its history. "The previous quarterly records of 1.45 trillion won in revenue and 170.9 billion won in operating profit were set in the second quarter of this year, when BTS kicked off its 'Arirang' world tour, and those figures have now been surpassed in just one quarter," it explained. The operating profit also topped the market consensus of 166 billion won compiled by Yonhap Infomax by 13.6 percent. Concert sales led the growth,