POSCO Holdings Inc. on Monday reported its second-quarter net profit of 800 billion won (US$621.4 million), down 55.6 percent from a year earlier.
Operating income for the April-June period was 1.3 trillion won, down 38.1 percent from a year ago, the company said in a regulatory filing. Sales fell 12.6 percent to 20.1 trillion won.
The earnings met market expectations. The average estimate of net profit by analysts stood at 792.3 billion won, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.
Source: Yonhap News Agency