Seoul:K-pop powerhouse Hybe reported a net income of 11.3 billion won (US$8.4 million) for the third quarter, marking a significant turnaround from a loss of 52 billion won in the same period last year.

According to Yonhap News Agency, South Korea's largest entertainment agency revealed in a regulatory filing that its operating income for the July-September period reached 188.5 billion won, compared to a loss of 42.2 billion won the previous year. Additionally, revenue surged by 109.8 percent to 1.52 trillion won.

Despite the positive shift, Hybe's earnings fell short of market expectations. Analysts had estimated an average net profit of 121 billion won, based on a survey conducted by Yonhap Infomax, the financial data firm of Yonhap News Agency.