April 24, 2020 / 1:44 AM / a month ago

S.Korea's POSCO's Q1 profit fell 41.4% on-year, beating estimates

SEOUL, April 24 (Reuters) - South Korean steelmaker POSCO reported a 41.4% fall in first quarter operating profit as the coronavirus pandemic curbed global steel demand, beating market estimates.

POSCO, the world’s fifth-largest steelmaker, said on Friday its consolidated operating profit for the January-March quarter was 705 billion won ($570.12 million) versus 1.2 trillion won a year earlier and an average estimate of 578 billion won from 14 analysts, according to Refinitiv SmartEstimate.

The company’s first-quarter revenue fell 9.2% to 14.5 trillion won. ($1 = 1,236.5800 won) (Reporting By Jane Chung; Editing by Raju Gopalakrishnan)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below