1. LG Electronics says Q3 profit likely fell 3.7 per cent vs year earlier

LG Electronics says Q3 profit likely fell 3.7 per cent vs year earlier

South Korea's LG Electronics Inc said on Friday its third-quarter operating profit likely fell 3.7 percent from a year earlier.

By: | Seoul | Published: October 7, 2016 1:11 PM
LG, the world's second-largest television maker behind domestic rival Samsung Electronics Co Ltd, said in a brief regulatory filing it expects July-September operating profit to be 283 billion won (3.54 million). (Reuters)

LG, the world’s second-largest television maker behind domestic rival Samsung Electronics Co Ltd, said in a brief regulatory filing it expects July-September operating profit to be 283 billion won (3.54 million). (Reuters)

South Korea’s LG Electronics Inc said on Friday its third-quarter operating profit likely fell 3.7 percent from a year earlier.

LG, the world’s second-largest television maker behind domestic rival Samsung Electronics Co Ltd, said in a brief regulatory filing it expects July-September operating profit to be 283 billion won ($253.54 million). That beat a Thomson Reuters StarMine SmartEstimate of 274 billion won from a poll of 10 analysts.

Revenue for the period fell 5.8 percent to 13.2 trillion won, compared with a Thomson Reuters StarMine SmartEstimate of 13.6 trillion won.

The firm did not disclose further details of July-September trading, and will disclose full results at the end of October.

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