[Special Stock] Hyundai Mobis Shares Rise Over 6% on Strong Q3 Earnings View original image

[Asia Economy Reporter Kwon Jae-hee] Hyundai Mobis is showing a strong stock price increase of over 6% following its 'surprise earnings' in the third quarter.


As of 10:55 AM on the 28th, Hyundai Mobis is trading at 217,000 KRW on the KOSPI, up 6.37% compared to the previous trading day.


Hyundai Mobis announced that its sales for the third quarter of this year reached 13.1804 trillion KRW, a 31.9% increase compared to the same period last year. This is the highest quarterly sales ever recorded.


Operating profit rose 25.9% to 576 billion KRW during the same period. Net profit for the quarter increased by 4.6% to 559.9 billion KRW.


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Hyundai Mobis explained, "Despite challenging conditions such as rising raw material prices and logistics costs, the improvement in product mix and the global expansion of after-sales service (A/S) demand are the reasons behind the strong performance."


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