South Korea’s LG Electronics Co. projected near 20 percent on-quarter jump in its operating income for July-September period as it continued to strengthen dominance in premium white goods and TV market on top of warm response to its latest smartphone innovation that comes with a double screen.
In its guidance for third-quarter earnings, Korea’s household electronics name Monday reported its operating profit gained 19.7 percent on quarter and 4.3 percent on year to 781.1 billion won ($652.8 million). The number was the second best third-quarter performance after 851 billion won in 2009.
Sales added 0.4 percent on quarter and 1.8 percent on year to 15.7 trillion won to push its top line so far this year to record 46.24 trillion won.
The preliminary profit far beat market consensus of 605.5 billion won. The market took the news better than expected by projecting eased losses in the mobile division.
LG Electronics shares on Monday gained 4.52 percent to finish at 69,400 won in Seoul.
The company reports detailed quarterly performance at the end of this month.
By Lee Ha-yeon
[ⓒ Pulse by Maeil Business Newspaper & mk.co.kr, All rights reserved]