LG Electronics' Q1 operating profit beats market consensus

Source: Xinhua | 2020-04-08

LG Electronics, South Korea's No.2 tech firm, saw its first-quarter operating profit beating market consensus, regulatory filing showed Tuesday.

Preliminary figure for operating profit amounted to 1.1 trillion won (900 million U.S. dollars) in the January-March quarter, marking the company's third-largest quarterly profit.

It was up 21.1 percent from a year earlier, surpassing the market expectations of about 870 billion won (711 million U.S. dollars).

Revenue fell 1.2 percent over the year to 14.7 trillion won (12 billion U.S. dollars) in the March quarter.

Detailed earnings on each business would be unveiled later this month.