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(LEAD) LG expects best-ever Q3 results on robust home appliance, TV sales

All News 15:19 October 08, 2020

(ATTN: CHANGES headline, lead; UPDATES throughout; ADDS photo)

SEOUL, Oct. 8 (Yonhap) -- LG Electronics Inc. on Thursday expected its best-ever third-quarter earnings, as its home appliance and TV sales apparently got a boost from pent-up demand amid the pandemic-driven stay-at-home trend.

In its earnings guidance, the South Korean tech firm projected its operating profit at 959 billion won (US$831 million) for the July-September period, up 22.7 percent from a year earlier.

Its third-quarter operating income estimate beats the market consensus of 888.7 billion won in the data compiled by Yonhap Infomax, the financial arm of Yonhap News Agency, which surveyed 10 Korean brokerage houses in the past three weeks.

LG also expected its third-quarter sales to be 16.9 trillion won in the three-month period, up 7.8 percent from a year earlier. The figure is also above the market consensus of 16.4 trillion won.

Both sales and operating profit are the largest for any third quarter in its history.

LG did not break down performances of its respective business divisions, saying it will announce the detailed earnings later this month.

This file photo, taken on July 30, 2020, shows the headquaters building of LG Electronics Co. in Seoul. (Yonhap)


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