LG Electronics’ Q2 operating profit increases 140 percent on-year

LG

LG Electronics’ Q2 operating profit increases 140 percent on-year

PUBLISHED :July 08, 2016 - 16:42
UPDATED :July 08, 2016 - 17:19

[THE INVESTOR] LG Electronics said in its earnings guidance released on July 8 that it posted 584.6 billion won (US$503.9 million) in operating profit and 14 trillion won in revenue in the April-June period.

The estimated operating profit and revenue increased 139.5 percent and 0.5 percent, respectively, on-year while they increased 15.7 percent and 4.8 percent, compared to the first quarter this year.

LGE billboard at New York City's Times Square. / LG Electronics

The company’s home appliance business, which has put weight on high-end home electronics such as a dual-tub washing machine and organic light-emitting diode TVs, is said to have driven the profits.

On the other hand, its mobile business reportedly posted an operating loss for the fourth consecutive quarter due mainly to the sluggish sales of the firm’s flagship smartphone G5 during the three months.

By Kim Young-won (wone0102@heraldcrop.com)

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LG Electronics’ Q2 operating profit increases 140 percent on-year

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