KT Corp. on Friday reported its second-quarter net income of 410.5 billion won (US$298.6 million), down 5.1 percent from a year earlier.

Operating income for the April-June period was 494 billion won, down 14.3 percent from a year ago, the company said in a regulatory filing. Revenue fell 0 percent to 6.54 trillion won.

The earnings beat market expectations. The average estimate of net profit by analysts stood at 378.7 billion won, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.

Source: Yonhap News Agency