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LG Electronics Q2 Profit Down

July 27, 2023 — 03:35 am EDT

Written by RTTNews.com for RTTNews

(RTTNews) - LG Electronics Ltd. (LGEPF.OB, LGEJY.OB, LGEIY.OB, LGEAF.OB) reported second quarter net income of 195.3 billion Korean won, down from 338.0 billion won in the prior year.

Quarterly operating profit decreased to 741.9 billion won from 792.2 billion won in the previous year.

Sales for the second quarter rose to about 20.00 trillion won from 19.46 trillion won last year.

Looking ahead for the third quarter, the company said it continues to drive growth year-over-year in sales based on stable growth of vehicle component business and timely response to TV peak season.

Third quarter operating profit is expected to increase year-over-year on the back of profitability based business operations including cost structure improvement and efficient spending.

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