HYBE Revenue Falls Sharply, Gets Strong Debuts by TWS and ILLIT ...Middle East

K-pop giant HYBE posted its lowest total revenue in two years as its recorded music segment sank to its lowest level in seven quarters, the South Korean company announced Thursday (May 2).  HYBE had first quarter revenue of 360.9 billion won ($271.5 million), down 12.1% year over year and the lowest since posting 285 billion won ($214.4 million) in the first quarter of 2022. Operating profit fell precipitously to 14.4 billion won ($10.8 million), down 72.6% from the prior-year period.  HYBE’s share price was barely affected by the slowest quarter in years. The share price initially rose 1.7% to 205,500 won ($149.2

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