SM Entertainment's Q3 operating profit soars 261.6% on-year

K-pop powerhouse SM Entertainment reported a stark rise in third-quarter earnings, backed by a robust portfolio of intellectualproperties and a streak of million-selling albums, according to the company on Wednesday. SM Entertainment reported sales of 321.6billion won ($222.18 million) and an operating profit of 48.2 billion won, reflecting a 32.8 percent increase in revenue and asignificant 261.6 percent increase in operating profit on-year. The agency's net profit also surged 1,107 percent