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(LEAD) LG Electronics' operating profit up 16.1 pct in Q2

All Headlines 15:36 July 06, 2018

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By Kang Yoon-seung

SEOUL, July 6 (Yonhap) -- LG Electronics Inc. said Friday its second-quarter operating profit advanced 16.1 percent from a year earlier, apparently led by stable sales of TVs and home appliances.

Operating profit came to 771 billion won (US$691 million) in the April-June period, compared to 664 billion won posted in the same period a year earlier, LG Electronics said in its earnings guidance report.

Sales rose 3.2 percent over the cited period to reach 15 trillion won.

The operating profit fell shy of the market's estimate of 8.4 trillion won suggested by 17 brokerage houses, compiled by Yonhap Infomax, the financial arm of Yonhap News Agency.

LG did not offer performance and net profit estimate reports for each business division. The company will deliver its finalized earnings report later this month.

Operating profit slid 30.4 percent from January-March of 2018.

Industry watchers said the on-quarter decline apparently came on increased marketing expenditures, along with sluggish sales of smartphones.

LG, however, said it was the first time for the company to post sales above 30 trillion won over a January-June period.

In the first six months of 2018, LG raked in 30.1 trillion won in sales, along with a record 1.87 trillion won in operating profits.

Shares of LG Electronics traded 2.06 percent lower than the previous session's close, at 76,200 won, as of 3:18 p.m. The second-quarter estimate was announced during the market session.

(LEAD) LG Electronics' operating profit up 16.1 pct in Q2 - 1

colin@yna.co.kr
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