On Monday, POSCO Future M Co. reported a second-quarter net income of 43.1 billion won (US$33.5 million), a decrease of 7.1 percent from the same period last year.
The company said in a regulatory filing that operating income for the April-June period was 52.1 billion won, a decrease of 5.6 percent from the previous year. Sales, however, rose 48.5 percent to 1.19 trillion won.
The earnings exceeded market predictions. According to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency, the average estimate of net profit was 42.1 billion won.