GS Retail Co. on Wednesday reported its second-quarter net income of 63.9 billion won (US$46.4 million), up 19.1 percent from a year earlier.

Operating income for the April-June period was 81 billion won, down 9.4 percent from a year ago, the company said in a regulatory filing. Revenue rose 4.4 percent to 2.93 trillion won.

The earnings beat market expectations. The average estimate of net profit by analysts stood at 59.3 billion won, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.

Source: Yonhap News Agency