Hyundai Motor Q2 net profit rises 59%, beats estimates

2022.07.21 07:57

FILE PHOTO: A shop sign of Hyundai is seen outside a car showroom in Bletchley, Milton Keynes, Britain, May 31, 2020. REUTERS/Andrew Boyers

SEOUL (Reuters) – Hyundai Motor Co posted on Thursday a 59% rise in second-quarter profit as a weak won lifted the value of its earnings abroad and demand remained strong for the South Korean automaker’s high-margin sport-utility vehicles (SUVs).

Net profit climbed to 2.8 trillion won ($2.13 billion) for the April-June period from 1.8 trillion won a year earlier, beating an average analyst forecast of 2.2 trillion won from Refinitiv SmartEstimate.

($1 = 1,312.1200 won)

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