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South Korea's Hyundai Motor swings to net loss in third quarter, misses consensus

South Korea's Hyundai Motor swings to net loss in third quarter, misses consensus

FILE PHOTO: A staff member dusts off a Hyundai car at the Beijing International Automotive Exhibition, or Auto China show, in Beijing, China Sep 27, 2020. (REUTERS/Tingshu Wang/File Photo)

SEOUL: South Korea's Hyundai Motor said on Monday (Oct 26) it swung to a net loss in the July to September quarter, missing analysts' estimates by a large margin as a charge related to engine issues weighed on earnings.

Hyundai, the world's fifth-biggest automaker when combined with affiliate Kia Motors Corp, reported a net loss of 336 billion won (US$297.72 million) for the third quarter, far below the 1 trillion won profit average of 12 analyst estimates complied by Refinitiv.


Source: Reuters/kv

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