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POSCO Q2 operating profit up 44.3 pct; beats consensus
July 20, 2017 / 6:59 AM / 2 months ago

POSCO Q2 operating profit up 44.3 pct; beats consensus

SEOUL, July 20 (Reuters) - South Korea steelmaker POSCO posted a 44.3 percent rise in operating profit for the April-to-June quarter, beating estimates.

POSCO, the world’s fifth-biggest steelmaker, said on Thursday consolidated operating profit was 979.1 billion won ($870.60 million) during the second quarter, compared with 679 billion won a year earlier and a 940 billion won average estimate from 20 analysts polled by Reuters.

Its second-quarter revenue rose 16.2 percent from a year ago to 14.9 trillion won.

$1 = 1,124.6300 won Reporting by Jane Chung and Hyunjoo Jin; Editng by Christian Schmollinger

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