Seoul: K-pop powerhouse Hybe Co. on Tuesday reported its fourth-quarter net loss of 26 billion won (US$18.2 million), remaining in the red compared with a year ago.
According to Yonhap News Agency, the company's operating profit for the October-December period was 65.3 billion won, marking a 26.7 percent decline from a year ago. Despite the decrease in operating profit, sales for the period rose by 19.2 percent to 725.3 billion won.
The operating profit was 23.7 percent lower than the average estimate provided by a survey conducted by Yonhap Infomax, the financial data firm of Yonhap News Agency. However, the estimate of net profit was not available.