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Monday, November 15, 2010

[news] SM Entertainment continues to cash in profit for the 3rd Quarter of 2010


Currently Korea's Largest Entertainment agency, SM Entertainment continues to show a strong performance in terms of profit this 3rd quarter of the year.

KOSDAQ has listed the earning's of agencies on the 15th of November and the total profit and earnings of SM Entertainment was revealed.

For the third quarter of the year, SM Entertainment was able to have a revenue of 20.704 billion won with a 4.58 billion won operating profit and a net income of 2.7 billion won. They are reportedly to have a 26.04% increase in revenue, 92.65% increase in operating profit and 11.59% increase in net profit. This is their earnings for the third quarter alone with their artist SNSD being active this quarter of the year in their successful expansion in Japan and Korea.

For the three quarters that passed, SM Entertainment has a strong sales of 68.232 billion won which is a cumulative revenue, 23.187 billion won in cumulative operating profit and 20.387 billion won in cumulative net profit.

Last year in 2009, SM Entertainment ended up victorious in terms of profit having 61.788 billion won revenue for the year of 2009, having 9.266 billion won in operating profit and 4.471 billion won in net profit. It can be seen that their profits increased this year surpassing their total profit in 2009 with only three quarters in 2010.

Source: Starnews
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