Hyundai Motor Reports $1.65 Billion Net Profit, Beating Estimates

Summary

  • Hyundai Motor, along with its affiliate Kia Corp, ranks third in global automobile sales.
  • For the Q4 period, Hyundai Motor posted a net profit of 2.2 trillion won ($1.65 billion), an increase from last year’s 1.7 trillion won.
  • However, this falls short compared to the 2.9 trillion won average estimate by LSEG SmartEstimate.
  • LSEG SmartEstimate is a reputable forecasting organism, inclined towards more consistently accurate analysts.

Hyundai Motor’s Financial Performance

Leading automaker Hyundai Motor and its affiliate Kia Corp, ranked third globally in auto sales, revealed their net profit for the Q4 period. This amount totalled 2.2 trillion won ($1.65 billion), marking an increase from the 1.7 trillion won profit they registered during the same period last year.

Comparison with Analysts’ Forecast

While the profit increase is significant, the actual figure failed to meet the average 2.9 trillion won projection put forward by LSEG SmartEstimate. It’s worth mentioning that LSEG SmartEstimate often leans towards forecasts from consistently accurate analysts.

The conversion rate stands as follows: $1 equals 1,335.6100 won.

Hyundai’s financial results can impact the forex trading sphere, specifically for assets tied to the performance of the South Korean won and the automobile industry.

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