Seoul: LG Uplus Corp. on Thursday announced a significant rise in its first-quarter financial performance, with net income reaching 162.5 billion won (US$116.2 million), marking a 24.6 percent increase from the previous year.
According to Yonhap News Agency, the telecommunications company also reported an operating profit of 255.4 billion won for the January-March period, reflecting a 15.6 percent rise compared to the same quarter last year. Additionally, LG Uplus's sales showed a growth of 4.8 percent, totaling 3.74 trillion won.
The company's earnings surpassed market expectations, as analysts had estimated a net profit average of 154.8 billion won, based on a survey conducted by Yonhap Infomax, the financial data firm of Yonhap News Agency.