LG Electronics Q2 Profit up 26.5 Percent

Editorial Team
By Editorial Team
LG Electronics Q2 Profit up 26.5 Percent

South Korea’s LG Electronics said on Thursday its second-quarter profit rose 26.5 percent from a year earlier, beating analyst estimates, as the company’s mobile business ran a profit for the first time in four quarters.

LG reported April-June operating profit of 606 billion won ($588.92 million), compared with a 524 billion won mean estimate of 39 analysts polled by Thomson Reuters I/B/E/S.

The world’s second-largest TV maker after Samsung Electronics reported operating profit of 479 billion won a year earlier and 504 billion won in January-March.

The manufacturer said its TV division ran an operating profit of 154.5 billion won, up from 93.7 billion won a year prior. Its mobile phone unit ran an 85.9 billion operating profit versus 61.2 billion won profit.

Shares of LG Electronics extended gains following the earnings disclosure and were up 2.3 percent versus a 0.2 percent fall in the wider market.

SOURCE: http://www.cnbc.com/id/101862289

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The Editorial team at APAC Outlook Magazine is a team of professional in-house editors led by Alex Tuck, Head of Editorial at Outlook Publishing.