According to Kyunghyang Shinmun via Soompi, Big Hit recently declared that there is a huge rise in operating profit for the third quarter of 2020 was an impressive 40.1 billion won (USD 36.2 million) which displayed a remarkable 73% surge from the same period in 2019. This is the organization’s first performance report after their monumental debut on the Korea stock exchange called Composite Stock Price Index (KOSPI).
Furthermore, there was also an increased revenue of 54% to 190 billion won (USD 171.4 million approx) on the other hand, net earnings increased by 92% to 27.2 billion won (USD 24.5 million approx). In a comparison of the second quarter of 2020, the revenues, operating profit, and net profits increased by 22%, 38%, and 51% respectively.
According to the reports, in the third quarter of the year, the garnered operating profit is said to be 89.9 billion won (USD 81 million approx) while garnered revenue and net profit recorded to be 484 billion won (USD 436.3 million) and 60.4 billion won (USD 54.4 million) respectively. The increase rate from the same period in 2019 for these numbers is 20%, 9%, and 13% respectively.
Big Hit Entertainment in their official statement said, “Album sales were steady and official merchandise sales rose steadily. Third-quarter numbers were strong also due to the acquisition of Pledis Entertainment.”