Kiwoom Securities Co. on Thursday reported its first-quarter net income of 244.8 billion won (US$177.3 million), down 16.3 percent from a year earlier. The company said in a regulatory filing that it posted 337.7 billion won in operating profit for the quarter, compared with 388.9 billion won a year ago. Revenue fell 14.1 percent to 2.64 trillion won. The earnings beat market expectations. The average estimate of net profit by analysts stood at 201.4 billion won, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency. Source: Yonhap News Agency
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