Business

LG’s Q2 of 2018 misses estimates but is still profitable

LG posted a profitable Q2 despite missing the estimates of analysts. In the period from April to June LG has made a profit of KRW 771 billion (589 million) and turned in a revenue of KRW 15 trillion (11.4 billion).

Operating profit rose 16.1% from the same period last year while revenue rose 3.2% from KRW 14.6 trillion to the aforementioned KRW 15 trillion.

Earlier today Samsung reported similar Q2 numbers – around KRW 14.8 trillion (11.3 billion).

Back to LG – analysts expect that higher marketing expenses for new devices like the LG G7 ThinQ weighed down on profit. LG will release a detailed report later on this month.

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