POSCO third-quarter operating profit rises 9 percent, meets forecasts

SEOUL (Reuters) - South Korean steelmaker POSCO on Thursday posted a 9 percent rise in operating profit for the July to September quarter, as a sustained recovery in steel prices lifted earnings at its overseas operations.

POSCO, the world's fifth-biggest steelmaker, said consolidated operating profit was 1.13 trillion won ($1.01 billion) in the third quarter, up from 1.03 trillion won in the same period a year earlier and in line with an average estimate of 1.12 trillion won from analysts polled by Reuters.

Third-quarter revenue rose 18 percent from a year ago to 15 trillion won.

($1 = 1,123.5100 won)

(Reporting by Hyunjoo Jin; Editing by Kenneth Maxwell and Sonali Paul)