KT Posts Upbeat Q1 Net Profit

KT Corp KT reported a better-than-expected first-quarter net profit. KT's quarterly net profit dropped to KRW407.6 billion (US$357.8 million), from KRW555.2 billion, in the year-earlier period. However, analysts were expecting a net profit of KRW319.5 billion. Its operating profit fell 20% to KRW574.7 billion. KT shares closed at $12.53 on Friday.