Seoul: LG Electronics Inc., a prominent home appliance manufacturer based in South Korea, announced an estimated operating profit of 639.1 billion won (US$467.2 million) for the second quarter, marking a significant decline of 46.6 percent compared to the same period last year.
According to Yonhap News Agency, the company's revenue also saw a decrease of 4.4 percent, amounting to 20.74 trillion won. While the data concerning net profit remains undisclosed, it is noted that the reported operating profit fell short by 15.2 percent of the average estimate derived from a survey conducted by Yonhap Infomax, the financial data division of Yonhap News Agency.
LG Electronics plans to release its final earnings report in the near future, which will provide a more comprehensive view of its financial performance for the quarter.