Kia-Q3 earnings

Kia Q3 net down 59.6 pct to 458.9 bln won

SEOUL, Oct. 25 (Yonhap) -- Kia Corp. on Tuesday reported its third-quarter net income of 458.9 billion won (US$320.1 million), down 59.6 percent from a year earlier.

The company said in a regulatory filing that operating income for the July-September period fell 42.1 percent on-year to 768.2 billion won. Revenue increased 30.5 percent to 23.16 trillion won.

The earnings fell behind market expectations. The average estimate of net profit by analysts stood at 1.69 trillion won, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.

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