South Korea's POSCO says Q3 profit rose 36 percent, meeting estimates

SEOUL (Reuters) - South Korea's top steelmaker POSCO posted a 36 percent rise in operating profit in the third quarter from a year earlier, meeting analysts' forecasts due to higher steel product prices.

POSCO, the world's fifth-biggest steelmaker, said on Tuesday its consolidated operating profit rose to 1.5 trillion won ($1.3 billion) in the third quarter, compared with 1.1 trillion won a year earlier and an average estimate of 1.4 trillion won from 11 analysts, according to Refinitiv data.

POSCO's revenue rose 9.1 percent to 16.4 trillion won.

($1 = 1,136.5200 won)

(Reporting By Jane Chung and Ju-min Park; Editing by Tom Hogue)