[Featured Stock] CJ ENM Rises 10%... Strong Performance on News of Two Consecutive Quarters of Profit Turnaround

CJ ENM is recording double-digit growth rates. Following the first quarter, news of a return to profitability in the second quarter has increased its intraday gains.

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As of 2:26 PM on the 8th, CJ ENM is trading at 78,500 KRW, up 10.25% (7,300 KRW) compared to the previous day. The stock price, which had been fluctuating around 75,000 KRW earlier that day, has gained momentum after the earnings announcement at 2 PM. This is the largest daily increase since May 10, when it rose 9.25%.

On the 8th, CJ ENM disclosed that its second-quarter sales reached 1.1647 trillion KRW, with an operating profit of 35.3 billion KRW. Compared to the same period last year, sales increased by 11%, and operating profit turned positive from a loss of 30.4 billion KRW. Following the first quarter (operating profit of 12.3 billion KRW), the company succeeded in returning to profitability for two consecutive quarters compared to the previous year.

Looking specifically at the second-quarter performance, the commerce business saw a significant expansion in operating profit (27.5 billion KRW) as its mobile live commerce-centered strategy progressed smoothly. The media platform segment achieved a turnaround to profitability compared to the previous year, supported by strong performances of titles such as "The Queen of Tears" and "Seonjae Upgo Twieo," as well as the effect of TVING attracting paid subscribers through the "2024 KBO League." The music division recorded an operating profit of 4.9 billion KRW, while the still struggling film and drama division posted an operating loss of 18.2 billion KRW.

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