POSCO Future M Co. on Thursday reported its first-quarter net income of 57 billion won (US$41.4 million), up 41.7 percent from a year earlier.
The company said in a regulatory filing that operating income for the January-March period rose 87 percent on-year to 37.9 billion won. Revenue increased 0.3 percent to 1.13 trillion won.
The earnings exceeded market expectations. The average estimate of net profit by analysts stood at 21.2 billion won, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.
Source: Yonhap News Agency