Seoul: South Korea’s LG Electronics said on Friday that its third-quarter operating profit likely rose 44.4 per cent from the same period a year earlier, slightly below analysts’ estimates.
LG, in a regulatory filing, estimated July-September profit at 746 billion won ($659.76 million). That compared with an average 776 billion won forecast by nine analysts recently, according to a Refinitiv poll.
Revenue likely rose to 15.4 trillion won from 15.2 trillion won from a year earlier. That compared with a 15.9 trillion won forecast from 11 analysts.
According to data from Refinitiv, operating losses from LG’s mobile division for the third quarter are expected to be narrower than a year ago.
LG did not elaborate on its performance and will disclose detailed earnings in late October.