Kia misses profit estimates, blames marketing costs, strikes

Bloomberg reports Kia has missed analyst profit estimates for the second quarter after net income slipped to $965 million at current conversion rates. On average, analysts estimated the South Korean automaker would bring in somewhere around $1.1 billion, though Kia did see its revenue increase by 8.4 percent. The automaker said its less-than-estimated profit results came down to increased spending as the company strove to market its new Pride subcompact and K9 luxury sedan (a model that will be known as Quoris in other markets). Kia also saw its operating profit increase by 18 percent, falling just shy of industry estimates.

Autoblog , Kia misses profit estimates, blames marketing costs, strikes, Kia misses profit estimates, blames marketing costs, strikes