Seoul: Cosmax Inc. on Monday reported its third-quarter net income of 20.6 billion won (US$14.8 million), marking a substantial 90 percent increase from the previous year. The company’s financial performance for the July-September period showed an operating profit of 43.4 billion won, which is a 30.3 percent rise compared to the same period last year. Revenue also saw an uptick, increasing by 15.6 percent to reach 529.8 billion won.

According to Yonhap News Agency, despite the impressive growth figures, the earnings did not meet market predictions. Analysts had anticipated a net profit of 24.8 billion won, based on a survey conducted by Yonhap Infomax, the financial data division of Yonhap News Agency. The discrepancy between the actual figures and market expectations highlights the challenges in forecasting financial outcomes in the current economic climate.