Posco reports 25% drop in net profit for Q1 at $435.9 million

Posco Holdings on Thursday reported a net profit of 600 billion won (US$435.9 million) in the first quarter, down 25 percent from a year earlier.

The company's regulatory filing showed a drop compared to the 700 billion won posted a year ago. Revenue fell 6.7 percent to 18.1 trillion won.

The earnings beat market expectations. The average estimate of net profit by analysts stood at 319.7 billion won, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.

Yonhap