On Thursday, Hybe Co. announced that its net income for the third quarter had risen to 98.6 billion won (US$73.3 million), a 5.9 percent increase from the same period last year. The company also stated that its operating profit for the quarter totaled 72.7 billion won, which was 12.1 billion won more than the year before. Additionally, sales for the quarter increased by 20.7 percent to 537.9 billion won.
The results were better than expected, with analysts predicting an average net profit of 65.2 billion won, according to a survey conducted by Yonhap Infomax, a financial data provider of Yonhap News Agency.
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