POSCO Holdings Q2 net income down 55.6 pct to 800 bln won

POSCO Holdings-Q2 earnings

POSCO Holdings Q2 net income down 55.6 pct to 800 bln won

SEOUL, July 24 (Yonhap) -- 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.

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