POSCO Holdings Q3 operating profit down 71% to $632.6 million

POSCO Group CEO Choi Jeong-woo waves POSCO holding's flag. Yonhap

POSCO Holdings on Wednesday estimated its third-quarter operating profit at 900 billion won ($632.6 million), down 71 percent from a year earlier.

Revenue increased 2.9 percent to 21.2 trillion won. The data for net earnings was not available.

The operating profit was 17.8 percent lower than the average estimate, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.

The company will release its final earnings report later. (Yonhap)