LG Electronics Expects Quarterly Operating Profit to Nearly Halve

By Kwanwoo Jun

LG Electronics forecast a 47% drop in second-quarter operating profit, missing market expectations.

The South Korean consumer-electronics giant said in a preliminary earnings report Monday that its operating profit could come in at 639.10 billion won, equivalent to $469.1 million, for the April-June period, compared with 1.197 trillion won a year earlier.

The projected earnings were below a FactSet-compiled consensus estimate of 901.07 billion won.

Revenue is expected to have fallen 4.4% to 20.740 trillion won, LG Electronics said, also missing analysts' estimate in the FactSet survey.

LG Electronics is scheduled to release its full quarterly results later this month.

Write to Kwanwoo Jun at [e-mail]

(END) Dow Jones Newswires

07-06-25 2231ET