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Cube posts an operating loss of 900 million KRW in Q1 2017

By GhostWriter   15 days ago   99,316   4,915   110
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Cube Entertainment suffered more losses in the first quarter of 2017. 


On May 12, the income statement for Cube Entertainment's Q1 2017 was revealed. Cube posted an operating loss of minus 900 million KRW (minus $800,000) for the first quarter of the year. In the same period last year (Q1 2016) they posted an operating profit of 39 million KRW (around $34,000).


In terms of revenue, Cube posted 4.673 Billion KRW ($4.15 million) which is up 13.66% YoY (Year over Year). Cube posted a revenue of 4.111 Billion KRW ($3.6 million) in Q1 2016.


For net income, Cube posted minus - 764 million KRW ( -$680,000). In the same period last year (Q1 2016), Cube posted a positive net income of 16.97 million KRW (around $15,000).


It might look bad but compared to Q4 2016 when the company lost billions in KRW and millions in USD, they actually have stopped the bleeding somewhat and minimized the losses. With further reductions in operating costs and some money coming in from their artists, Cube could turn it around and go from the red to the black.


Shares of Cube Entertainment closed at 1,880 KRW ($1.67) on May 12, down 1.83% for the day.


SEE ALSO: 'Produce 101's Lim Young Min accused of cheating and breaking no spoiler rules

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    Tags:

    1. misc.
    2. cube
    3. cube entertainment


    valan 13 days ago

    I hope this keeps going the way it is with Cube so they go bankrupt and Around Us Ent. can buy out BtoB contracts for a low price, so BtoB can get help form there hyungs.

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    junsukiyoo 13 days ago

    They just lost their breadwinner so i saw this coming. *cough* beast *cough*

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    saranghae_3 14 days ago

    They lost their big groups, makes sense. Plus they decided to bag Hyunseung instead of profiting from Trouble Maker.

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    ahaxd 14 days ago

    CUBE... Nearly made it to become the BIG 4 instead of 3... In like 2012.... Success with Hyuna, trouble maker, beast, 4 minute, g.na, rain, btob starting to become popular etc.... What do they do with all of this? With Hyuna they give her less and less hits and more mediocre songs, make her do everything, not just for herself but other groups as well. The original troublemaker is gone and hyensung is in a dungeon. Beast has left. 4 Minute is gone. G.NA left. Rain is gone. Btob started getting mediocre comebacks and not too much promoting so their popularity isnt blowing up. CLC not popular yet. Roh Jihoon is not popular enough. And Pentagon are rookies. Triple H is cool but not successful like troublemaker, they shouldve gone with troublemaker for comeback or make a totally new sub-unit, not Hyuna in ANOTHER one, she has enough to do as she is basically doing everything... Also they no longer have A cube with groups like APINK who has become successful..... Whoever thats the CEO in CUBE needs to see that he ruined the company.

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    cmerle1 14 days ago

    They seem consistent with having losses. It won't be long before they're bankrupt IMO.

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    lovelunaa 14 days ago

    Now go bankrupt you stupid trash company and learn to manage your artists better

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    PDlife 14 days ago

    I'm not giving up on this company yet all the big 3 went through troubles in between but came out strong

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    exocool 14 days ago

    CLC comeback was that bad? (in profit terms)

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    vyonce 14 days ago

    hyuna man, why'd she stay

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    prettychristinna 14 days ago

    I guess Hyuna isn't doing a very good job

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    cmerle1 prettychristinna 14 days ago

    Such a loaded comment and I can't come up with a response that isn't sarcastic or funny lol

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