Investing.com - POSCO reported on Tuesday second quarter earnings that beat analysts' forecasts and revenue that topped expectations.
POSCO announced earnings per share of ₩0.1 on revenue of ₩11.46B. Analysts polled by Investing.com anticipated EPS of ₩0.05 on revenue of ₩11.24B.
POSCO shares are down 18.95% from the beginning of the year and are trading at ₩41.03 , down-from-52-week-high.They are under-performing the EUR/USD which is down 0% from the start of the year.
POSCO follows other major Basic Materials sector earnings this month
POSCO's report follows an earnings beat by PPG Industries on Thursday, July 16, 2020, who reported EPS of ₩0.99 on revenue of ₩3.02B, compared to forecasts EPS of ₩0.7 on revenue of ₩2.81B.
Akzo Nobel ADR had beat expectations on Wednesday with second quarter EPS of ₩0.8 on revenue of ₩1.99B, compared to forecast for EPS of ₩0.22 on revenue of ₩2.19B.
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