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(LEAD) LG Electronics turns operating profit in Q4

All News 15:42 January 08, 2018

(ATTN: ADDS details in last 3 paras, photo)
By Kang Yoon-seung

SEOUL, Jan. 8 (Yonhap) -- LG Electronics Inc. said Monday its earnings are estimated to have turned to the black, with an operating profit in the fourth quarter of 2017.

Its operating profit is estimated at 366.8 billion won (US$343 million) for the October-December period. The company recorded an operating loss of 35.2 billion won over the same period a year earlier, LG Electronics said in a regulatory filing.

Sales are estimated to have increased 14.8 percent over the cited period to 16.9 trillion won, it added.

The operating profit estimate fell short of the market consensus of 471 billion won compiled by Yonhap Infomax, the financial arm of Yonhap News Agency, through a survey of 17 brokerage houses.

LG did not offer a net profit estimate for the fourth quarter, nor breakdowns for each segment. The South Korean tech giant is set to unveil its finalized earnings later this month.

For all of 2017, the South Korean tech giant raked in an operating profit of 2.4 trillion won, marking the second-highest performance ever posted by the firm. The record currently stands at 2009, when LG posted an operating profit of 2.6 trillion won.

In terms of sales, the company raked in 61.4 trillion won for all of 2017, marking the first time for LG to post a revenue hovering above the 60 trillion-won mark on an annual basis.

Shares of LG Electronics closed at 105,000 won on the main bourse Monday, down 5.41 percent from the previous session. The fourth-quarter report was announced during the trade session.

(LEAD) LG Electronics turns operating profit in Q4 - 1


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