POSCO Center / Courtesy of POSCO Holdings

POSCO Holdings on Thursday reported its second-quarter net profit of 500 billion won ($360.6 million), down 37.5 percent from a year earlier.

The company said in a regulatory filing that operating profit for the April-June period fell 38.5 percent on-year to 800 billion won. Revenue decreased 8 percent to 18.5 trillion won.

The earnings exceeded market expectations. The average estimate of net profit by analysts stood at 368.5 billion won, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency. (Yonhap)