Contentree JoongAng rose in early trading on the 7th. The company appears to be gaining on expectations after its third-quarter results beat market expectations (consensus).
As of 9:33 a.m. that day, Contentree JoongAng was trading at 9,480 won, up 700 won (7.97%) from the previous session.
Contentree JoongAng released third-quarter results the previous day, saying it posted 278.7 billion won in sales and 11.4 billion won in operating profit on a consolidation basis. Operating profit was the highest quarterly level since COVID-19.
Key subsidiary SLL recorded 164.3 billion won in sales and 8.3 billion won in operating profit. The improvement is attributed to the resumption of JTBC's Friday drama and diversification of distribution platforms. Megabox JoongAng posted 78.4 billion won in sales and 2.7 billion won in operating profit, returning to the black. Overseas films and animations with a high share of screenings in premium formats were hits, and sales of merchandise related to "Demon Slayer: Infinity Castle," which ranked No. 2 in domestic box office among Japanese animations, appear to have supported results.