SEOUL, South Korea - Kia Corp. announced on Friday that its third-quarter net profit rose to 2.22 trillion won (US$1.6 billion), marking a 384 percent increase compared to the same period last year.
According to a new release by Yonhap News Agency, operating profit for the July-September quarter surged 272.9 percent on-year to 2.86 trillion won. Revenue for the quarter also grew, seeing a 10.3 percent increase to reach 25.54 trillion won.
The financial performance aligned with market expectations. Analysts' average estimate for net profit was 2.23 trillion won, based on a survey conducted by Yonhap Infomax, the financial data arm of Yonhap News Agency.