LG Elec says first quarter operating profit likely up 82 percent year on year

Reuters News
Posted: Apr 07, 2017 2:18 AM

SEOUL (Reuters) - South Korea's LG Electronics Inc <066570.KS> estimated on Friday its first-quarter operating profit rose 82 percent from a year earlier, beating market expectations on healthy sales of appliances and televisions.

LG said January-March operating profit was likely 922 billion won ($812.98 million), compared with a 518 billion won average forecast from a Thomson Reuters I/B/E/S survey of 24 analysts. Revenue likely rose 9.7 percent from a year earlier to 14.7 trillion won.

LG did not elaborate on its earnings estimates and will provide detailed financial results at end-April.

(Reporting by Se Young Lee; Editing by Muralikumar Anantharaman and Randy Fabi)