Samsung C and T Corp. on Wednesday reported its third-quarter net profit of 560 billion won (US$405.4 million), down 20.1 percent from a year earlier.

The company said in a regulatory filing that operating income for the July-September period fell 11.3 percent on-year to 736.2 billion won. Sales decreased 6 percent to 10.3 trillion won.

The earnings met market expectations. The average estimate of net profit by analysts stood at 560 billion won, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.

Source: Yonhap News Agency