Hyundai Motor Q2 Net Profit Up 10%

Hyundai Motor Co

reported a 10% rise in its second-quarter net profit. Hyundai Motor's quarterly consolidated net profit surged to 2.547 trillion Korean won ($2.2 billion), versus KRW2.307 trillion, in the year-ago period. However, analysts were expecting a net profit of KRW2.382 trillion. Hyundai Motor's operating profit surged 18% to KRW2.502 trillion from KRW2.127 trillion, while sales climbed 9.2% to KRW21.940 trillion from KRW20.092 trillion. Hyundai Motor shares closed at $28.00 yesterday.