April 23, 2020 / 5:20 AM / a month ago

Hyundai Motor Q1 profit slides 44%, far below forecasts, as coronavirus hits demand

SEOUL, April 23 (Reuters) - South Korea’s Hyundai Motor Co said on Thursday first-quarter net profit slumped 44% from a year earlier as the spreading coronavirus outbreak hit demand for cars worldwide.

Net profit for January-March was 463 billion won ($376 million), far below an average Refinitiv estimate of 607 billion won drawn from 15 analysts.

$1 = 1,230.6800 won Reporting by Joyce Lee; Editing by Edwina Gibbs

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