KT Q3 net income down 11.6 pct to 288.3 bln won

SEOUL, KT Corp. on Tuesday reported its third-quarter net income of 288.3 billion won (US$220.8 million), down 11.6 percent from a year earlier.

The company said in a regulatory filing that it posted 321.9 billion won in operating profit for the quarter, compared with 452.9 billion won a year ago. Sales rose 3.4 percent to 6.69 trillion won.

The earnings beat market expectations. The average estimate of net profit by analysts stood at 271.1 billion won, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.

Source: Yonhap News Agency