Hyundai Motor Q3 Net Profit Surges by 134%

SEOUL, - Hyundai Motor Co. announced a significant increase in its net profit for the third quarter of this year.

According to a new release by the Yonhap News Agency, the third-quarter net income was 3.3 trillion won (US$2.4 billion), up 134 percent from a year earlier. Hyundai Motor Co. also reported an operating profit of 3.82 trillion won for the quarter, compared with 1.55 trillion won a year ago. Sales rose by 8.7 percent to 41 trillion won. The earnings exceeded market expectations; the average estimate of net profit by analysts stood at 2.87 trillion won, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.

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