HYBE (352820) Q2 2026 earnings summary

Executive summary

• Achieved record high quarterly revenue of KRW 1.46 trillion and operating profit of KRW 170.9 billion in Q2 2026, driven by BTS's world tour and strong artist portfolio performance.

• Cumulative H1 2026 revenue reached KRW 2.15 trillion, with adjusted operating profit of KRW 229.4 billion, solidifying the earnings base despite a reported operating loss due to one-time expenses.

• Net profit rebounded to KRW 109.8 billion in Q2 2026, reversing a prior quarter loss; H1 2026 net loss attributable to owners was KRW 56.2 billion.

• Expansion of global influence and entertainment ecosystem, with significant contributions from BTS, CORTIS, KATSEYE, and other artists.

• Operates as a global entertainment and lifestyle platform with 88 consolidated subsidiaries and a multi-label strategy.

Financial highlights

• Q2 consolidated revenue: KRW 1.46 trillion (record high); operating profit: KRW 170.9 billion; operating profit margin: 11.8%.

• Cumulative H1 2026 consolidated revenue: KRW 2.15 trillion; gross profit: KRW 760.1 billion.

• Revenue with direct artist involvement: KRW 1.04 trillion (72% of total); indirect involvement: KRW 410.1 billion (28%).

• Merchandising and licensing revenue: KRW 310.6 billion (all-time high); content sales: KRW 41.6 billion (down YoY due to fewer large-scale events).

• Weverse MAU: 14.43 million (+8% QoQ); total paying amount and ARPU up 12% and 24% QoQ, respectively.

Outlook and guidance

• Revenue growth trend expected to continue in H2 2026, supported by ongoing artist promotions, over 200 planned concerts, and world tours.

• Efforts to maintain and improve operating profit margin through cost control, economies of scale, and rapid profitability from new groups.

• Strategic focus on global expansion, multi-label growth, and technology integration to drive future revenue.