Hybe Q2 net income down 85.9 pct to 16.5 bln won

Hybe Co. on Wednesday reported its second-quarter net profit of 16.5 billion won (US$12 million), down 85.9 percent from a year earlier. The company said in a regulatory filing that operating profit for the April-June period fell 37.4 percent on-year to 50.9 billion won. Revenue increased 3.1 percent to 640.5 billion won. The earnings fell short of market expectations. The average estimate of net profit by analysts stood at 64.7 billion won, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency. Source: Yonhap News Agency