LG electronics operating profit grows 33.5 percent in Q3

Operating profit jumped 33.5 per cent from a year earlier to 996.7 billion won (US$736.9 million) in the July-September quarter, reported Xinhua.

It topped market expectations of about 798 billion won (US$590 million).

Revenue shrank 2.2 per cent to 20.71 trillion won (US$15.3 billion) compared to the company's third-quarter high of 21.18 trillion won (US$15.7 billion) a year earlier.

Net income surged 44.2 per cent over the year to 485.2 billion won (US$358.7 million) in the third quarter.

The home appliance unit posted an operating profit of 504.5 billion won (US$372.2 million) on revenue of 7.46 trillion won (US$5.5 billion) in the third quarter.

The operating profit more than doubled compared to the same quarter of last year.

The vehicle component business generated a record-high operating profit of 134.9 billion won (US$99.5 million) on revenue of 2.5 trillion won (US$1.8 billion).

The TV-manufacturing division logged an operating profit of 110.7 billion won (US$81.7 million) on revenue of 3.57 trillion won (US$2.6 billion).

The business solutions unit registered an operating loss of 20.5 billion won (US$15.1 billion) on revenue of 1.33 trillion won (US$981.2 million) - BERNAMA