South Korea's top automaker Hyundai Motor Company’s earnings exceeded market expectations in the first quarter of this year, despite concerns over U.S. auto tariffs.

Hyundai Motor announced on Thursday that its consolidated operating profits for the first three months of this year stood at three-point-63 trillion won, up two-point-one percent on-year. That’s equivalent to over two-point-five billion U.S. dollars.

Revenue also rose nine-point-two percent to 44-point-478 trillion won, the highest ever for a first-quarter report.

While the sales volume decreased in the first quarter of this year compared to the same period last year, the positive outcome was led by highest-ever hybrid sales, improvements in the financial sector and favorable exchange rates.

Despite concerns about U.S. tariffs, sales in the U.S. increased by one-point-one percent compared to the same period last year.