K-pop music giant HYBE said on Monday that concerts by BTS member Jin, SEVENTEEN and TOMORROW X TOGETHER helped drive its third quarter revenues up 38%, but lagging album sales contributed to an overall unprofitable quarter.

Operating profit, which measures a company’s total core business earnings after interest and tax are taken out, fell to a loss of 42.2 billion Korean won (negative $30 million) in the quarter, reflecting higher income taxes and pressure on HYBE’s recorded music business, which fell 11.5% from last year due to fewer new album releases. Earnings before interest, tax, depreciation and amortization were negative 16.8 billion Korean won (about $12 million) for the quarter. HYBE’s stock ended the trading day on Seoul’s Stock Exchange flat, having recovered from a 3.7% decli

See Full Page