LG Electronics Q2 Revenues Climb, Sees Weak Operating Profit; Stock Up

Shares of LG Electronics Inc. (LGEPF.OB) were gaining around 3 percent in South Korean trading after the electronics major reported Thursday a 15 percent year-over-year increase in second-quarter revenues to 19.5 trillion Korean won.

Operating profit for the second quarter would be 791.7 billion won, down 12 percent from the previous year.

The company, which terminated production and sales of solar panel at the end of June, has treated the business as a discontinued operating loss in the latest quarter.

Applying the same standards to the same period last year, LG said it would have recorded a revenue of 16.9 trillion won with an operating profit of 900.1 billion won.

The company will announce details regarding each division officially later this month.

In South Korea, LG Electronics shares were trading at 96,200 won, up 3.33 percent.

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