Seoul: LG Energy Solution, South Korea's leading battery manufacturer, reported an estimated second-quarter operating earnings of 492.2 billion won (US$361.2 million), marking a 152 percent increase compared to the same period last year. Despite this significant rise in operating earnings, the company experienced a 9.7 percent decline in revenue, amounting to 5.56 trillion won. However, data concerning net earnings has not been disclosed.
According to Yonhap News Agency, the estimated operating profit surpassed the average estimate by 64.4 percent, a figure that was derived from a survey conducted by Yonhap Infomax, the financial data division of Yonhap News Agency. LG Energy Solution is expected to release its final earnings report in the near future, which will provide further insights into its financial performance for the second quarter.