SM Entertainment's shares fell more than 7% on Wednesday after the label announced an unprofitable quarter. The company said lower physical and digital music sales and concert revenue led to a 9% decline in overall revenue.
SME reported revenue of 291.1 billion Korean won ($205.2 million) and an operating profit of 35.5 billion won, both down sharply from the same period a year earlier. The quarter ended with a net loss of 1.1 billion won, which the company linked to foreign‑exchange losses caused by the appreciation of the Korean won.