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LG Electronics estimates Q2 operating profit at 664.1 bln won

All News 15:18 July 07, 2017

By Kang Yoon-seung

SEOUL, July 7 (Yonhap) -- LG Electronics Inc. said Friday its second-quarter operating profit has been estimated at 664.1 billion won (US$574.5 million), apparently helped by its strong home appliances business.

The latest figure marks a 13.6 percent jump from the 584.6 billion won posted in the April-June period of 2016, South Korea's No. 2 tech giant said in a regulatory filing.

Sales came to 14.5 trillion won, also up 3.9 percent from a year earlier.

The new operating profit estimate fell short of the market's earlier expectation of 768 billion won, compiled by Yonhap Infomax, the financial news arm of Yonhap News Agency, on 21 South Korean brokerage houses.

LG did not announce the performance of each business division. The company is set to release the finalized earnings report later this month.

Shares of LG Electronics were trading at 74,700 won as of 3:04 p.m. on Friday, down 3.11 percent from the previous session. The second-quarter estimate was announced during the trading session.


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