Kia Q3 Net Income Falls 9.7% Despite Higher Sales; Shares Drop 10%

Kia Corp. (000270.KS) shares fell 10.72% to KRW 96,700 on the Korean Stock Exchange on Friday, even as the South Korean automaker reported higher third-quarter sales and operating income. Net income attributable to shareholders of the parent company declined 9.7% to KRW 1.29 trillion from KRW 1.42 trillion a year earlier, the company said Friday. Operating income rose to KRW 1.82 trillion from KRW 1.46 trillion, while sales increased to KRW 31.60 trillion from KRW 28.69 trillion in the prior-year period.