FILE PHOTO: Hyundai introduces its Vision T concept car at the LA Auto Show in Los Angeles, California, U.S., November 20, 2019. REUTERS/Andrew Cullen
January 22, 2020
SEOUL (Reuters) – South Korea’s Hyundai Motor Co <005380.KS> swung to a fourth-quarter profit from a loss a year earlier, helped by brisk sales of sport-utility vehicles such as its Tucson and Palisade models.
Net profit for October-December came in at 839 billion won ($721 million), missing an average estimate of 998 billion profit from 10 analysts, according to Refinitiv I/B/E/S data.
Its operating profit, however, came in at 1.24 trillion won, outperforming analysts’ average estimate of 1.06 trillion won.
In the same quarter a year earlier, Hyundai booked a 129.8 billion won loss, its first quarterly loss in at least eight years as sales slumped in China. It has since closed one of its five Chinese factories.
(Reporting by Joyce Lee; Editing by Tom Hogue)
