HYBE Rallies as BTS Tour Fuels Stronger Earnings Forecasts
Brokerage forecasts point to sharply higher third-quarter revenue and concert sales as BTS and newer acts draw large crowds.
Key takeaways
- iM Securities forecasts third-quarter revenue of 1.5 trillion won, up 106% year over year.
- Concert revenue is projected to reach 717 billion won, nearly triple the year-earlier level.
HYBE shares rose about 10% Friday as investors assessed forecasts for stronger third-quarter earnings, supported by concerts from BTS and the label’s other acts. As of 03:53 UTC, the stock traded at 180,900 won, up 9.57% from its previous close.
iM Securities expects revenue to reach 1.5 trillion won, up 106% from a year earlier, and operating profit to total 172.2 billion won. It forecasts concert revenue of 717 billion won, nearly three times the year-earlier figure.
BTS played 16 North American stadium shows and eight in Europe during the quarter. Concert attendance across HYBE’s acts was nearly 3 million, while iM Securities said newer groups including Katseye and Cortis could help reduce the company’s reliance on BTS.
This article was produced with the help of AI technology. Based on reporting by the outlets listed above.
