KT Q2 Net Profit Down 43%
Korea's KT (NYSE: KT) reported a 43% drop in its second-quarter net profit.
KT's quarterly net profit declined to KRW238 billion (US$209 million), versus KRW420.6 billion, in the year-ago period. However, analysts were expecting a net profit of KRW210 billion.
Its operating profit fell 14% to KRW371.7 billion versus KRW432.4 billion, while sales climbed 8.1% to KRW5.773 trillion versus KRW5.343 trillion.
KT lifted its annual capital investment forecast to KRW3.8 trillion this year, versus KRW3.5 trillion.
KT shares closed at $13.98 yesterday.
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.