Seoul: LG Electronics Inc. announced its first-quarter net profit of 875.6 billion won (US$612.4 million), marking an increase of 49.6 percent compared to the previous year.
According to Yonhap News Agency, the company revealed in a regulatory filing that it achieved 1.25 trillion won in operating profit for the quarter, slightly down from 1.33 trillion won recorded a year earlier. Meanwhile, revenue experienced a 7.8 percent rise, reaching 22.73 trillion won.
The operating profit was 5.4 percent lower than the average estimate, as per a survey conducted by Yonhap Infomax, the financial data arm of Yonhap News Agency. However, the survey did not provide an estimate for the net profit.