SM Entertainment completes the first half of 2015 on a high as the company experiences its highest revenue ever.
On August 10th, the Financial Supervisory Service listed the 2nd quarter earnings of the KOSDAQ companies, including SM Entertainment.
According to the tentative financial statements released, SM’s posted sales came up to 141.6 billion KRW, or $120,061,224 USD, for the first half of the year, seeing a rise of 9.7% compared to last year’s number and making this their highest sales yet for the company.
The company’s operating costs this year came up to 15.6 billion KRW, or $13,227,084 USD, seeing a rise of 52.9% compared to 2014 for the same period.
SM released a statement on August 11th, saying, “Thanks to the hard work of our various artists including TVXQ, Super Junior, Girls’ Generation, SHINee, f(x), EXO, and Red Velvet, our sales in China have sharply increased by 114% from last year.”
Their 2nd quarter sales for SM were about 76.1 billion won with an operating profit of 117 billion won, and a net profit of 65 billion won. When compared to last year in the same period, sales are up 22.5% while operating profit rose by 116.2%.
This year, SM Entertainment saw the solo debuts of Jonghyun and Amber, comebacks of TVXQ, Super Junior, Girls’ Generation, SHINee, EXO, Red Velvet, BoA, M&D, Donghae & Eunhyuk, with many more coming in the second half of the year including f(x) and the return of Red Velvet.
Source: Star News