SEOUL, Aug. 5 (Yonhap) -- Lotte Shopping Co. on Friday reported its second-quarter net profit of 45.5 billion won (US$35 million), swinging from a loss of 34.5 billion won a year earlier.
The company said in a regulatory filing that it posted 74.4 billion won in operating profit for the quarter, compared with 7.6 billion won a year ago. Revenue fell 0 percent to 3.9 trillion won.
The earnings beat market expectations. The average estimate of net profit by analysts stood at 7.4 billion won, according to the survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.
(News Focus) No parcel day: Why S. Korean delivery workers are taking a day off on Aug. 14
Advertising controversy grips S. Korean mukbang YouTubers
Seoul's last-ditch home supply plan still in doubt over its viability
Korean foodmakers ramp up overseas push amid COVID-19 pandemic
Bumpy road lies ahead for Samsung, even after heir avoids detention