Business

LG announces preliminary earnings for Q2 2017

The second quarter of 2017 just concluded and companies started publishing their preliminary results . Samsung already announced it is expecting a record-breaking Q2, while its main Korean competitor LG just announced that it expects its sales to reach KRW14,5 trillion ($12.5B), while its operating profit will stand at KRW664 billion or about $576 million.

Sales for the three months ending in June slightly decreased from the KRW14.6 trillion posted for the previous quarter. The decline is 0.7%, but results compare favorably to the same period a year ago when sales were KRW14 trillion.

Operating income is 28% down compared with January-March. It is 13.6% up over the KRW584.6 billion posted in Q2 of 2017, though.

The final results including net profit and details by division will be officially announced by the end of this month.

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