LG Electronics third-quarter operating profit drops 37 percent, still beats estimates

Reuters News
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Posted: Oct 29, 2015 2:32 AM

SEOUL (Reuters) - South Korea's LG Electronics Inc <066570.KS> said on Thursday its third-quarter operating earnings fell 37 percent from a year earlier, but still beat expectations as its TV business returned to profit after a second-quarter loss.

The world's No.2 television maker behind Samsung Electronics Co Ltd <005930.KS> said the July-September profit was 294 billion won ($257.43 million), down from 465 billion won a year earlier. But that still beat a forecast of 266 billion won profit from Thomson Reuters SmartEstimate, derived from a poll of 29 analysts.

Revenue for the quarter fell 4.7 percent from a year earlier to 14 trillion won.

(Reporting by Se Young Lee; Editing by Kenneth Maxwell)