Seoul: Hyundai Motor Co. on Thursday reported its fourth-quarter net income of 2.47 trillion won (US$1.7 billion), marking a 12.3 percent increase from the previous year. The company's financial results for the October-December period were shared in a regulatory filing, highlighting significant financial movements in its operations.
According to Yonhap News Agency, Hyundai's operating income for the fourth quarter fell by 17.2 percent year-on-year to 2.82 trillion won. Despite this decline in operating income, the company saw an increase in revenue, which rose by 11.9 percent to 46.62 trillion won.
The reported earnings, however, fell short of market expectations. Analysts had anticipated a higher net profit, with the average estimate standing at 2.84 trillion won, as per a survey conducted by Yonhap Infomax, the financial data firm of Yonhap News Agency.