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(LEAD) LG Electronics estimates Q1 operating profit at 921.5 bln won

All News 15:22 April 07, 2017

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By Kang Yoon-seung

SEOUL, April 7 (Yonhap) -- LG Electronics Inc. said Friday its first-quarter operating profit is estimated at 921.5 billion won (US$812.3 million).

The latest figure marks an 82.4 percent jump from 505.1 billion won posted in the January-March period of 2016, South Korea's No. 2 tech giant said in a regulatory filing.

It also turned black from an operating loss of 35.2 billion won posted in the fourth quarter of last year, the data showed.

Sales came to 14.6 trillion won, also up 9.7 percent from a year earlier.

LG Electronics' first-quarter operating profit was estimated at 609.5 billion won, up 20.6 percent from a year earlier, according to the data compiled by Yonhap Infomax, the financial news arm of Yonhap News Agency on 20 local brokerage houses.

The company is set to deliver the finalized earnings report later this month.

The operating profit and sales both mark the second-highest quarterly figures ever posted by LG. They also set a new record in terms of first-quarter performances.


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