SEOUL, May 10 (Yonhap) — KT Corp. on Friday reported its first-quarter net income of 393 billion won (US$286.8 million), up 26.9 percent from a year earlier.
The company said in a regulatory filing that operating income for the January-March period rose 4.2 percent on-year to 506.5 billion won. Revenue increased 3.3 percent to 6.65 trillion won.
The earnings exceeded market expectations. The average estimate of net profit by analysts stood at 355.8 billion won, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.
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