LG Electronics Forecasts 61% Rise in Second-Quarter Profit
By Kwanwoo Jun
LG Electronics expects its second-quarter operating profit to rise 61% from a year earlier, likely led by solid demand for home and business appliances.
The South Korean consumer-electronics giant said in a preliminary earnings report Friday that its operating profit could come in at 1.196 trillion won ($865.3 million), compared with profit of KRW741.90 billion a year earlier.
The projected earnings beat a FactSet-compiled consensus estimate of KRW977.00 billion.
Revenue is expected to have risen 8.5% to KRW21.701 trillion, LG said, above the FactSet-compiled consensus forecast.
LG Electronics didn't provide additional details. It is due to release its full quarterly earnings later this month.
Write to Kwanwoo Jun at kwanwoo.jun@wsj.com
(END) Dow Jones Newswires
July 04, 2024 21:44 ET (01:44 GMT)
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