JYP 1Q Operating Profit Up 119% YoY, Operating Margin 35%

Q1 2023 Earnings Announcement on the 15th
Operating Profit 42 Billion KRW, Up 119%
Operating Margin Reaches an Impressive 35%

JYP Entertainment announced on the 15th that its consolidated first-quarter results showed sales of 118 billion KRW and operating profit of 42 billion KRW. Sales for the same period last year were 67.7 billion KRW, and operating profit was 19.1 billion KRW. This represents increases of 76% and 119%, respectively. The operating profit margin also reached an impressive 35%.

The results exceeded market expectations compiled by financial information firm FnGuide. The initial market forecast was sales of 97.6 billion KRW and operating profit of 27.1 billion KRW.

True to its reputation as a company focused on its core business, it delivered steady performance. Even though it was not the main IP (intellectual property) activity season, it sold 3.66 million albums, including 1.78 million by TWICE, 930,000 by Stray Kids, and 680,000 by NMIXX.

JYP has abundant momentum in the second quarter as Stray Kids and TWICE will be active. TWICE began their fifth world tour since debut on the 30th of last month. On the 13th and 14th, they also held the first-ever stadium concerts by a girl group in Japan, with a total of 11 scheduled performances throughout the second quarter. Stray Kids, who have emerged as a major force by becoming the second Korean artist after BTS (Bangtan Sonyeondan) to top the Billboard 200 chart more than once, will make a comeback next month with their third full-length album.

This content was produced with the assistance of AI translation services.