Seoul: Hyundai Motor Co. on Thursday reported its first-quarter net profit of 3.38 trillion won (US$2.4 billion), up 0.2 percent from a year earlier. Operating profit for the January-March period was 3.63 trillion won, reflecting a 2.1 percent increase from a year ago, as noted in the company's regulatory filing. Revenue for the first quarter rose 9.2 percent to 44.4 trillion won.
According to Yonhap News Agency, the earnings surpassed market expectations. The average estimate of net profit by analysts was projected at 3.17 trillion won, based on a survey conducted by Yonhap Infomax, the financial data firm of Yonhap News Agency.