Hyundai Motor Q3 Operating Income Rises 5.5% but Net Profit Falls 24.6%; Shares Gain 3.55%

Hyundai Motor Co. reported higher third-quarter operating income Thursday, even as net profit dropped amid weak sales. Shares in South Korea rose 3.55% to 306,500 won following the release. Operating income grew 5.5% to 2.677 trillion won from 2.537 trillion won a year earlier, though it fell 6.1% from the prior quarter. Net income attributable to parent shareholders declined 24.6% to 1.704 trillion won from 2.261 trillion won, a sequential drop of 32.4%. Sales for the quarter fell 3.4% to 45.110 trillion won from 46.721 trillion won a year ago, and were down 8.3% quarter over quarter. The South Korean automaker trades under 005380.KS and HYMTF.OB.