j 🐶 #BoycottHYBE

📑 | HYBE Q3 2026 — THE FINANCIAL RESULTS HYBE reported its highest quarterly revenue and operating profit to date. Its net profit, however, fell sharply compared with the previous quarter. Here’s how those results fit together. (Q3 covers July–September. Comparisons in this post use Q2 2026 and Q3 2025.) 01 | REVENUE REACHED ₩1.526 TRILLION Revenue is the money a company earns before deducting costs. HYBE’s revenue increased 5.2% from Q2 and 109.8% from Q3 last year. Here’s where it came from. • Concerts — ₩726.8 billion • Merchandise and licensing — ₩334.6 billion • Recorded music — ₩282.8 billion • Advertising and appearances — ₩65.6 billion • Fan clubs and related activities — ₩59.1 billion • Content — ₩56.7 billion 02 | CONCERTS AND MERCH DROVE THE QUARTER Concert revenue rose 12.2% from Q2 and 196.7% from a year earlier, reaching a quarterly record. HYBE highlighted BTS’s world tour alongside tours by other artists, including ENHYPEN. Merchandise and licensing also reached a quarterly record, growing 7.7% from Q2 and 98.7% from a year earlier. Together, these two categories accounted for approximately 70% of HYBE’s total revenue. This shows how much the quarter depended on live performances and products sold around its artists. 03 | RECORDED MUSIC HAD A MIXED RESULT Recorded music revenue reached ₩282.8 billion. It fell 13.4% from Q2, while increasing 49% compared with Q3 last year. Both comparisons matter. Sales were lower than in the immediately preceding quarter, but remained higher than in the same period of 2025. HYBE noted that fewer albums were released compared with Q2. Management said streaming represented approximately 30% of recorded music revenue, with the remainder coming from other recorded music sales. 04 | OPERATING PROFIT ROSE TO ₩188.5 BILLION Operating profit is what remains after deducting the costs of running the business, before accounting for items such as investment results, currency effects, and income tax. HYBE reported ₩1.337 trillion in operating expenses, up 4.5% from Q2. Revenue grew slightly faster than these expenses, helping operating profit increase 10.3%. Its operating profit margin reached 12.4%, compared with 11.8% in Q2. That means HYBE retained roughly ₩12.4 in operating profit for every ₩100 of revenue. Compared with Q3 2025, HYBE moved from an operating loss of ₩42.2 billion to an operating profit. 05 | WHY DID NET PROFIT FALL? Net profit includes the effects of items outside the company’s main operations and income tax. Despite the rise in operating profit, HYBE’s net profit fell 89.7% from Q2, from ₩109.8 billion to ₩11.3 billion. Its non-operating expenses rose to ₩142.8 billion, compared with ₩43.7 billion in Q2. During the Q&A, HYBE’s CFO attributed most non-operating losses to foreign exchange valuation effects as the Korean won strengthened. In simple terms, foreign-currency holdings can be worth less when converted back into won. That can reduce reported profit even when the main business earns more. After non-operating items, HYBE reported ₩39.9 billion in profit before tax. Income tax of ₩28.6 billion brought the final net profit to ₩11.3 billion. 06 | WHAT THESE FIGURES TELL US HYBE’s overall business expanded, with concerts and merchandise making a particularly large contribution. Its main operations became more profitable, while expenses outside those operations and tax substantially reduced the final profit. These are consolidated figures covering HYBE’s wider business. Assessing ENHYPEN, BELIFT, or the impact of a specific boycott requires more detailed information than these totals provide. Sources — HYBE Q3 2026 earnings release, financial factsheet, and earnings call.

📑 | HYBE Q3 2026 — OVERVIEW HYBE held its third-quarter earnings call on November 3rd. We’re opening our Q3 series with a quick overview of the results, topics discussed, and analyst questions. 01 | TOPICS — Financial results Record quarterly revenue and operating profit, alongside a sharp drop in net profit compared with Q2. — Recorded music New albums, sales of older releases, and streaming. ENHYPEN, EVAN, CORTIS, and other artists were mentioned. — Concerts Record concert revenue, BTS’s world tour, and other artists’ tours, including ENHYPEN’s activities in the Americas. — Advertising and appearances Revenue from advertising deals and artist appearances. — Merchandise and licensing Tour merch, character products, and changes to purchasing and pickup services. — Content Documentaries, games, and upcoming releases such as season’s greetings packages and concert DVDs. — Weverse and fan clubs User numbers, fan spending, membership revenue, and new platform features. — KATSEYE A dedicated update on the group’s albums, streaming, and international touring. — Global expansion HYBE’s activities across the U.S., Japan, Latin America, and India, including local groups and cross-market collaborations. — Global Label Services Shared marketing and promotion resources across HYBE’s labels and markets. 02 | ANALYST Q&A — BTS’s future activities Analysts asked about upcoming plans and HYBE’s reliance on the group. Management mentioned additional tour shows and growth across its wider roster. — Non-operating losses HYBE attributed most of these losses to exchange-rate effects. — Competition and future groups Analysts asked whether HYBE could repeat KATSEYE’s success. Management pointed to its international infrastructure and ability to build dedicated fanbases. — Labor costs HYBE said higher costs mainly reflected money set aside for incentive payments, with headcount broadly steady. — CORTIS’s touring plans Management said it would consider larger venues for the next tour. Stay tuned for each in-depth analysis! Sources — HYBE Q3 2026 earnings release, financial factsheet, and earnings call transcript.