Seoul: Amorepacific Corp. announced a significant downturn in its financial performance for the second quarter, with net income falling sharply by 92.9 percent to 37.6 billion won (approximately US$26.9 million) compared to the same period last year.

According to Yonhap News Agency, despite the decline in net profit, the company's operating profit for the April-June period exhibited a substantial increase, surging 1673.3 percent to reach 73.7 billion won. Furthermore, the revenue for the quarter saw an 11.1 percent rise, totaling 1 trillion won.

The reported earnings, however, failed to meet market expectations. Analysts, as surveyed by Yonhap Infomax, had projected an average net profit estimate of 69.2 billion won, indicating a significant deviation from anticipated performance.