logo
Plus   Neg
Share
Email

LG Electronics Q1 Profit Rises; Sees Growth In Q2 Profit, Sales - Quick Facts

South Korea's LG Electronics Inc. (LGEPF.OB,LGEJY.OB,LGEIY.OB,LGEAF.OB) reported Thursday that its first-quarter net income increased to 1.17 trillion Korean Won from last year's 1.09 trillion won.

Pre-tax net income grew to 1.49 trillion won from last year's 1.39 trillion won.

Operating income improved to 1.52 trillion won from prior year's 1.09 trillion won.

Sales were 18.81 trillion won, 27.7 percent higher than 14.73 trillion won a year ago.

Looking ahead for the second quarter, the company expects sales to grow significantly year-on-year affected by strong sales in appliance and TV on the back of the recovering demand in the global market, and increased sales in the vehicle component business.

Operating profit is expected to improve year-on-year.

In South Korea, LG Electronics shares were trading at 162,000 won, down 1.22 percent.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Fast-food giant McDonald's said it will be raising hourly wages for more than 36,500 hardworking employees at McDonald's-owned restaurants by an average of 10 percent to make it among the industry-leading pay and benefits package. These increases, which have already begun, will be rolled out over the next several months. Biogen Inc. (BIIB) Friday said its XIRIUS study of cotoretigene toliparvovec failed to meet its primary endpoint in Phase 2/3 in patients with X-linked retinitis pigmentosa or XLRP. The company further noted that the study obtained positive trends in other pre-specified clinically relevant endpoints,... General Mills Inc. (GIS) agreed to buy Tyson Foods' (TSN) pet treats business for $1.2 billion in cash, the companies said in a statement on Friday. The transaction includes the Nudges, Top Chews and True Chews brands. General Mills will also acquire a manufacturing facility in Independence, Iowa.
Follow RTT