Yuanta Securities projected on the 8th that Hybe (KOSPI: 352820) will report consolidated revenue of 1.1457 trillion won in the second quarter of 2026, a rise of 62.4% year on year, with operating profit reaching 149.1 billion won, up 126.3% over the same period. The brokerage described the forecast as in line with market expectations.
The strong outlook is attributed to the commercial success of BTS's world tour, robust merchandise sales, and better-than-expected album sales across Hybe's intellectual-property portfolio, all of which carry relatively high margins.
In the album segment, total sales are expected to exceed 12 million copies. A growing share of premium formats — including vinyl — is lifting average selling prices, pointing to record album revenue. The concert division is also set for an all-time performance as BTS's world tour results are fully reflected in the quarter's figures.
Yuanta also highlighted the impact of the digital single "ICONIC by Mistake". Without any new marketing spend, cross-selling between fan communities lifted monthly Spotify listeners for three of Hybe's acts — Le Sserafim, ILLIT, and Katseye — by 43.3%, 39.0%, and 7.0% respectively compared with the previous month.
On a full-year basis, Yuanta forecasts 2026 revenue of 4.3085 trillion won (+62.6% year on year) and operating profit of 273.7 billion won, representing a jump of 455.3% from the prior year.
The brokerage maintained its buy recommendation and target price of 330,000 won. Based on the closing price of 232,000 won on the 7th, the implied upside is 42%.