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(LEAD) LG Electronics delivers earnings shock in Q4

All News 15:13 January 08, 2020

(ATTN: CHANGES headline, lead; UPDATES with more info throughout; COMBINES with article slugged LG Electronics-2019 earnings guidance; ADDS photo)
By Kim Han-joo

SEOUL, Jan. 8 (Yonhap) -- LG Electronics Inc. said Wednesday its fourth-quarter operating profit is expected to have increased by more than 30 percent from a year earlier, but the performance was far below what analysts had expected.

In an earnings guidance, the South Korean electronics maker said it expects 98.6 billion won (US$ 84.2 million) in operating income during the Oct.-Dec. period, up 30.3 percent from a year earlier.

(LEAD) LG Electronics delivers earnings shock in Q4 - 1

The figures were far below the median forecast of 254.8 billion won in operating profit in a survey conducted by Yonhap Infomax, the financial arm of Yonhap News Agency.

Its sales are expected to be some 16.06 trillion won during the cited three months, a 1.8 percent increase from a year earlier, the company said.

For the whole year of 2019, its operating income is estimated at 2.43 trillion won, also down 10 percent from a year earlier.

Full-year sales are expected to reach an annual record high of 62.31 trillion won, up 1.6 percent from a year earlier.

The company did not provide detailed performances for each division, saying it will release its earnings report later this month.


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