Hyundai Mobis-Q1 earnings

Hyundai Mobis Q1 net income down 13.7 pct to 521 bln won

SEOUL, April 22 (Yonhap) -- Hyundai Mobis Co. on Friday reported its first-quarter net income of 521 billion won (US$419.3 million), down 13.7 percent from a year earlier.

The company said in a regulatory filing that operating income for the January-March period fell 21.1 percent on-year to 386.9 billion won. Revenue increased 15.2 percent to 11.3 trillion won.

The earnings failed to meet market expectations. The average estimate of net profit by analysts stood at 596 billion won, according to the survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.

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