Seoul: KT Corp. on Friday reported its first-quarter net profit of 566.8 billion won (US$403.8 million), marking a 44.2 percent increase from the same period last year.
According to Yonhap News Agency, the company announced in a regulatory filing that its operating profit for the quarter reached 688.8 billion won, up from 506.5 billion won a year earlier. The company's revenue also saw an increase, rising by 2.9 percent to 6.84 trillion won.
The reported earnings significantly surpassed market expectations. Analysts had predicted an average net profit of 473.2 billion won, based on a survey conducted by Yonhap Infomax, the financial data firm of Yonhap News Agency.