[Special Stock] SM Surges Over 4% on Q1 Surprise Earnings... 3 Consecutive Trading Days of Gains

[Asia Economy Reporter Park Jihwan] SM is showing a strong gain of over 4% due to its surprise earnings in the first quarter.

As of 10:15 AM on the 18th, SM is trading at 37,650 KRW, up 1,700 KRW (4.73%) from the previous day. This marks the third consecutive day of gains.

SM recorded an operating profit of 15.4 billion KRW in the first quarter, a sharp increase of 815% compared to the same period last year. This far exceeds the average securities market forecast of 3.3 billion KRW.

This was thanks to album sales reaching a quarterly record high of 1.8 million copies (+440,000 copies), resulting in a 45.7% increase in album and digital music sales. Additionally, the consolidated subsidiary DearU showed rapid growth with first-quarter sales increasing more than tenfold to 8.9 billion KRW and operating profit reaching 3.2 billion KRW.