Seoul: POSCO International on Thursday reported its first-quarter net income of 203.8 billion won (US$142.4 million), marking an 11.5 percent increase from the previous year.
According to Yonhap News Agency, the company revealed in a regulatory filing that it achieved an operating profit of 270.2 billion won for the quarter, up from 265.4 billion won a year earlier. Revenue for the same period also saw an increase, rising 5.1 percent to 8.15 trillion won.
The earnings surpassed market expectations, as analysts had projected an average net profit of 148.5 billion won, based on a survey conducted by Yonhap Infomax, the financial data firm associated with Yonhap News Agency.