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POSCO Future M swings to loss in Q3

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  • Published Oct 30, 2024 2:49 pm KST
  • Updated Oct 30, 2024 3:10 pm KST
POSCO Center / Courtesy of POSCO Holdings

POSCO Center / Courtesy of POSCO Holdings

POSCO Future M on Wednesday reported its third-quarter net loss of 1.2 billion won ($867,177), turning from a profit of 23.2 billion won a year earlier.

The company said in a regulatory filing that it posted 1.4 billion won in operating profit for the quarter, compared with 37.1 billion won a year ago. Sales fell 28.2 percent to 922.8 billion won.

The loss was 81.2 percent higher than the average estimate, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency. (Yonhap)