POSCO Holdings Q3 net profit down 76.9 pct to 600 bln won

POSCO Holdings-Q3 earnings

POSCO Holdings Q3 net profit down 76.9 pct to 600 bln won

SEOUL, Oct. 24 (Yonhap) -- POSCO Holdings Inc. on Monday reported its third-quarter net income of 600 billion won (US$416.8 million), down 76.9 percent from a year earlier.

The company said in a regulatory filing that operating profit for the July-September period fell 71 percent on-year to 900 billion won. Revenue increased 2.9 percent to 21.2 trillion won.

The earnings failed to meet market expectations. The average estimate of net profit by analysts stood at 677.2 billion won, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.

(END)

(C) Yonhap News Agency. All Rights Reserved