Hyundai Steel-Q2 earnings

Hyundai Steel Q2 net profit up 60.7 pct to 566.6 bln won

SEOUL, July 26 (Yonhap) -- Hyundai Steel Co. on Tuesday reported its second-quarter net income of 566.6 billion won (US$432.9 million), up 60.7 percent from a year earlier.

Operating income for the April-June period was 822.1 billion won, up 50.8 percent from a year ago, the company said in a regulatory filing. Revenue rose 31.3 percent to 7.38 trillion won.

The earnings beat market expectations. The average estimate of net profit by analysts stood at 538.5 billion won, according to the survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.

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