Seoul: POSCO Holdings on Thursday reported its first-quarter net income of 340 billion won (US$237.8 million), marking a decrease of 44.3 percent compared to the same period last year.
According to Yonhap News Agency, the company stated in a regulatory filing that its operating profit for the quarter was 570 billion won, slightly down from 580 billion won in the previous year. Additionally, sales experienced a 3.4 percent decline, amounting to 17.44 trillion won.
The financial results did not meet market expectations, with analysts predicting an average net profit of 373 billion won. This estimate was derived from a survey conducted by Yonhap Infomax, the financial data division of Yonhap News Agency.