Shares of Hybe, the company behind K-pop supergroup BTS, surged 10% on Friday as investors weighed an upbeat third-quarter earnings outlook fueled by its artistes' global concerts.
Hybe's third-quarter revenue is expected to reach 1.5 trillion won ($1.11 billion), up 106% from a year earlier, while operating profit is projected at 172.2 billion won, according to local brokerage firm iM Securities. Concert revenue is expected to come in at 717 billion won, nearly tripling from a year earlier.
The share price gain on Friday outperformed the broader Kospi, which rose 2.9%.
BTS' ongoing world tour featured 16 stadium shows in North America and eight in Europe during the third quarter.
Thiat, alongside expanding tours by newer acts including Enhypen, Katseye and Cortis, helped drive concert attendance to nearly 3 million during the quarter, potentially marking a quarterly record for the company, the report said.