發布日期:2023-01-26 09:29:12
Flags, left and right, with the logo of LG Electronics in front of the headquarters of LG Electronics in Yeouido / Yonhap
LG Electronics said Friday its preliminary third-quarter operating profit jumped around 25 percent from a year earlier.
The tech company said its profit for the July-September period was predicted to come in at 746.6 billion won ($529 million), up 25.1 percent from 540.7 billion won from the year-ago period.
But LG's quarterly profit, in fact, declined on-year after taking into consideration a recall provision of 480 billion won for General Motors Co.'s Bolt electric vehicles during the year-ago quarter.
Sales are estimated to have increased 14 percent to 20.9 trillion won, surpassing the 20 trillion won mark for the first time in the company's history. The data for net income was not available.
Like many other electronics makers, continued macro economic woes paint a gloomy picture for LG's bottom line for the remaining year and into the next year.
Pandemic-driven pent-up demand for home appliances, including TVs, has lost steam and aggressive rate hikes in major economies to bring inflation under control significantly weakened consumer spending power.
High shipping costs amid supply chain disruptions are expected to continue hurting the company's performance.
For the three months to end-June, LG's home entertainment division logged an operating loss of 18.9 billion won, turning to losses for the first time in 28 quarters, as marketing costs rose and people spent less time at home. (Yonhap)