Kia's Q3 net profit falls 37.3% on year to $996.6 million

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Kia's Q3 net profit falls 37.3% on year to $996.6 million

Kia's Yangjae office in southern Seoul [KIA]

Kia's Yangjae office in southern Seoul [KIA]

 
Kia, Korea's second-largest automaker, on Friday reported its third-quarter net profit of 1.42 trillion won ($996.6 million), down 37.3 percent from a year earlier.
 
The company said in a regulatory filing that it posted 1.46 trillion won in operating profit for the July-September period, compared to 2.88 trillion won a year ago. Revenue rose 8.2 percent to 28.68 trillion won.
 

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The earnings fell behind market expectations. The average estimated net profit by analysts stood at 1.64 trillion won, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.

Yonhap
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