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HYBE Set Quarterly Revenue Record, Net Income Dropped Sharply in Q2
HYBE’s net income dropped 86% in the second quarter of 2024 as total revenue improved 3.1% to a quarterly record of 640 billion won ($482 million).
Earnings before interest, taxes, depreciation and amortization (EBITDA), a measure of the company’s cash profit from operations, fell 24.6% to 79 billion won ($59 million). HYBE sold fewer albums in the first half of the year but dominated sales charts in South Korea and Japan. This is a transformational time for the company built on the global success of boy band BTS but now expanding into new markets and initiatives.
Or read this on Billboard
