Hyundai Motor Q1 profit unchanged; misses estimates

South Korea's Hyundai Motor Co on Thursday missed analyst estimates by posting nearly flat net profit, as lacklustre U.S. performance offset increased sales in Korea and China.

Hyundai, the world's fifth-biggest automaker when combined with affiliate Kia Motors Corp, reported January-March net profit of 1.93 trillion Korean won ($1.86 billion) from 1.95 trillion won a year earlier.

The result compared with the 2.19 trillion won mean estimate of 13 analysts polled by Thomson Reuters I/B/E/S.

Revenue rose 1 percent to 21.6 trillion won.

Sales benefited from a redesigned Genesis sedan in Korea and increased factory capacity in China, analysts said, while in the United States, the automaker was up against rivals with newer models.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • It’s another challenging year for a govt that’s missed 20 of 24 targets

    The government has set an ambitious target for money to be raised through sale of public sector company shares.

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

Sarthak Raychaudhuri

vice-president, HR, Asia South Whirlpool of India

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

TODAY'S COLUMNS

BK Chaturvedi

Corruption law calls for correction

In any country, it is its laws against corruption that ...

Kuruvilla Pandikattu SJ

Believers of the world set to rise

The world is set to become more religious as the ...

Gautam Gupta

The changing face of the fashion world

Indian fashion industry, like every fashion industry in the world, ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture