Seoul: LG Electronics Inc. reported a second-quarter net profit of 609.7 billion won (US$442.5 million), marking a 3.1 percent decline from the previous year. The technology giant disclosed these figures in a regulatory filing, indicating a challenging quarter.
According to Yonhap News Agency, LG Electronics also revealed a significant decrease in its operating profit for the April-June period, which dropped 46.6 percent year-on-year to 639.4 billion won. Additionally, the company's revenue fell 4.4 percent to 20.73 trillion won during the same period.
Despite these declines, LG Electronics' earnings surpassed market expectations. Analysts had projected an average net profit of 173.2 billion won, based on a survey conducted by Yonhap Infomax, the financial data division of Yonhap News Agency.