POSCO Holdings Inc. on Thursday reported its first-quarter net profit of 600 billion won (US$435.9 million), down 25 percent from a year earlier.
The company said in a regulatory filing that it posted 600 billion won in operating profit for the quarter, compared with 700 billion won a year ago. Revenue fell 6.7 percent to 18.1 trillion won.
The earnings beat market expectations. The average estimate of net profit by analysts stood at 319.7 billion won, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.
Source: Yonhap News Agency