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[THE INVESTOR] Earnings surprises showed that more than half of Korea’s listed companies beat market estimates on second-quarter operating profit, despite unfavorable business conditions, data showed on Aug. 16.
According to data from market researcher WiseFn and Hyundai Securities, 80 companies of 156, or 50.6 percent, that had reported second-quarter earnings as of Aug. 12 posted operating profit exceeding analysts’ estimates for the April-June period.
Surprises in second-quarter earnings were led by tech companies, shipbuilders, chemicals manufacturers and oil refiners.
With major companies posting better results, the combined operating profit of all listed companies is estimated to have surpassed the 40 trillion won (US$36.4 billion) mark for the first time, raising expectations it would help bolster the uptick in stock prices.
(theinvestor@heraldcorp.com)
According to data from market researcher WiseFn and Hyundai Securities, 80 companies of 156, or 50.6 percent, that had reported second-quarter earnings as of Aug. 12 posted operating profit exceeding analysts’ estimates for the April-June period.
Surprises in second-quarter earnings were led by tech companies, shipbuilders, chemicals manufacturers and oil refiners.
With major companies posting better results, the combined operating profit of all listed companies is estimated to have surpassed the 40 trillion won (US$36.4 billion) mark for the first time, raising expectations it would help bolster the uptick in stock prices.
(theinvestor@heraldcorp.com)
