On Tuesday, Hybe Co. announced that its second-quarter net income was 117.4 billion won (US$89.8 million), representing an 18.7 percent increase from the same period last year.
Operating income for April-June was 81.3 billion won, a 7.9 percent decrease from the prior year, the company reported in a regulatory filing. Sales, however, rose 21.2 percent to 621 billion won.
The earnings were higher than market projections. According to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency, the average estimate of net profit by analysts was 62.9 billion won.