Naver: Seoul Economy: SM and JYP also met market expectations…
SM 2Q operating profit of 19.4 billion won... slightly below the market expectation of 20 billion
JYP 's earnings surprise ...
JYP 's earnings surprise ...
SM Entertainment and JYP Entertainment announced their second quarter results on the 16th . In the second quarter of this year, four entertainment companies, including Hive and YG , announced earnings that met or exceeded market expectations.
SM announced on the 16th its second quarter results with sales of 184.4 billion won and operating profit of 19.4 billion won. These figures are close to the market expectations of 181.9 billion won in sales and 20 billion won in operating profit, as compiled by financial information company FnGuide . Sales decreased 1% year-on-year, and operating profit fell 30 % year-on-year. This is because the number of new releases decreased from 8 to 6 compared to the previous year. Instead, concert and MD revenue increased. In Japan, profits from NCT 127 and Super Junior concerts and TVXQ fan meetings were generated, and the concert revenue increased from 300 million won to 4.2 billion won. MD and licensing revenue also 237billion, an increase of 137 % from the previous year.
The poor performance of subsidiaries affected operating profit. The Boyz's concert was canceled due to Corona, and DreamMaker posted a loss of 1.8 billion won. Subsidiaries in China also recorded a loss of 900 million won due to the corona lockdown.
In the third quarter, ESPA's 'Girls' revenue, which broke the record for the highest sales in the history of a girl group, will be reflected. Super Junior, Girls' Generation, and TVXQ will start supporting fire. SM 's large concert brand ' SM Town' will also be held. On the same day, SM stock closed at 76,200 won, up 1.6 percent
The poor performance of subsidiaries affected operating profit. The Boyz's concert was canceled due to Corona, and DreamMaker posted a loss of 1.8 billion won. Subsidiaries in China also recorded a loss of 900 million won due to the corona lockdown.
In the third quarter, ESPA's 'Girls' revenue, which broke the record for the highest sales in the history of a girl group, will be reflected. Super Junior, Girls' Generation, and TVXQ will start supporting fire. SM 's large concert brand ' SM Town' will also be held. On the same day, SM stock closed at 76,200 won, up 1.6 percent
JYP announced on the 16th that its 2Q earnings exceeded market expectations. Sales were 67.8 billion won and operating profit was 24.2 billion won. It is an earnings surprise that greatly surpassed the market expectations of 65.1 billion won in sales and 18.2 billion won in operating profit , compiled by financial information company FnGuide . On that day , JYP 's stock price rose 3.73 % to 61,200 .
Artists are expected to be active in the second half of the year. Stray Kids will hold a concert following their second world tour. Representative girl group TWICE will make a comeback with the release of the mini album 'Between One and Two' on the 26th . Itzy will also go on her first world tour, starting with her Seoul concert on the 6th. All US tour tickets are sold out. The band, Xdinary Heroes, also started their follow-up activities with the songs from their 1st mini album. Niju entered Japan arena tour in July. 2PM and Nmix are also expected to resume their activities. It is also predicted that new artists will debut in Korea, Japan, the United States, and China within next year.
