Seoul: LG Energy Solution Ltd. (LGES) on Friday reported its second-quarter net income of 90.6 billion won (US$66 million), swinging from a loss of 23.7 billion won a year earlier. The company said in a regulatory filing that it posted 492.2 billion won in operating profit for the quarter, compared with 195.3 billion won a year ago. Revenue fell 9.7 percent to 5.56 trillion won.
According to Yonhap News Agency, the operating profit was 61.6 percent higher than the average estimate, based on a survey conducted by Yonhap Infomax, the financial data firm of Yonhap News Agency. The estimate of net profit was not available.