January 24, 2018 / 7:01 AM / 25 days ago

POSCO Q4 operating profit jumps 144 pct, but misses estimates

SEOUL, Jan 24 (Reuters) - South Korean steelmaker POSCO’s fourth-quarter operating profit surged 144 percent, helped by steel price gains, but fell short of market estimates as higher raw material costs cut into earnings.

POSCO said on Wednesday its consolidated operating profit for the October-December quarter climbed to 1.15 trillion won ($1.08 billion), including affiliates’ earnings, from 472 billion won in the same period a year earlier.

The consensus operating profit estimate for the period compiled by Thomson Reuters I/B/E/S was for 1.25 trillion won.

$1 = 1,069.2900 won Reporting by Hyunjoo Jin; Editing by Kenneth Maxwell

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