Seoul: Hyundai AutoEver Corp., an IT services development and management affiliate of Hyundai Motor Group, reported a fourth-quarter net profit of 54.4 billion won (US$37.9 million), marking a 5.1 percent increase from the previous year.

According to Yonhap News Agency, the company's regulatory filing revealed that operating income for the October-December period rose 5.3 percent year-on-year to 76.5 billion won, while revenue increased by 14.1 percent to 1.32 trillion won. However, despite these increases, the earnings fell short of market expectations, as analysts had estimated a net profit of 64.6 billion won, based on a survey conducted by Yonhap Infomax, the financial data arm of Yonhap News Agency.