HYBE stock is rising early in the trading session on the 7th. It seems that the buying momentum has surged following the news that HYBE recorded its highest quarterly revenue to date in the second quarter of this year.
As of 9:05 a.m. on this day, HYBE stock is trading at 279,000 won, up 7.72% (20,000 won) compared to the previous trading day in the securities market.
Earlier, HYBE disclosed its preliminary results for the second quarter of this year on the previous day (6th). The consolidated revenue for HYBE in the second quarter of this year was 705.7 billion won, an increase of 10.2% compared to the same period last year. This is the highest revenue recorded for a second quarter.
During the same period, operating profit increased by 29.5% year-on-year to 65.9 billion won, while net profit rose by 53.5% year-on-year to 15.5 billion won.
In the securities industry, forecasts have emerged that HYBE's operating profit will increase in the third quarter. Kim Hyun-yong, a researcher at Hyundai Motor Securities, noted, "The number of concert attendees in the third quarter is expected to increase by 123% year-on-year to 1.5 million," adding, "As a result, the operating profit in the third quarter is expected to surge to 81.9 billion won."