Hybe Q1 net profit up 62.2 pct to 49.8 bln won

Hybe-Q1 earnings

Hybe Q1 net profit up 62.2 pct to 49.8 bln won

SEOUL, May 2 (Yonhap) -- Hybe Co. on Tuesday reported its first-quarter net profit of 49.8 billion won (US$37.1 million), up 62.2 percent from a year earlier.

The company said in a regulatory filing that it posted 52.5 billion won in operating profit for the quarter, compared with 37.1 billion won a year ago. Sales rose 44.1 percent to 410.6 billion won.

The earnings beat market expectations. The average estimate of net profit by analysts stood at 41.3 billion won, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.

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