YG rookie girl group BABYMONSTER is expected to debut in the second half of the year, YG witnesses a rising share price
YG Entertainment witnesses a soaring stock price, with a new rookie girl group a major contributing factor.
As of 9:20 a.m. (KST) on May 12th, YG Entertainment (122870) is trading at 74,200 won, up 11.24% from the previous trading day.
On the previous day, YG Entertainment announced that its consolidated operating profit in the first quarter of this year was 36.5 billion won, increasing by 497.6% compared to the same period last year. The figure far exceeds the market consensus of 16.3 billion won in operating profit.
Sales increased by 108.6% year-on-year to 157.5 billion won. Net profit increased by 437.5% to 31.3 billion won.
Jung Ji Soo, a researcher at Meritz Securities, said, “The delayed sponsorship was reflected in the first quarter of 2023, addressing market concerns about profitability. Album and DVD sales increased by 56.5% year-on-year due to strong sales of Black Pink Jisoo’s first single album in March”. The researcher explained that profits rose significantly due to schedules such as BLACKPINK’s and Treasure’s World Tours.
On top of that, the new girl group BABYMONSTER also confirmed its final debut with seven members, raising investors’ expectations.
Researcher Jung said, “YG Entertainment finalized seven BABYMONSTER members for debut through its official YouTube channel at midnight on May 12th. Despite the pre-debut, the number of simultaneous users was high enough to reach about 500,000. [BABYMONSTER] seems likely to make an official debut at the end of the third or early fourth quarter”.
Source: etnews
