S. Korea's LG Electronics posts biggest Q3 earnings

0 Comment(s)Print E-mail Xinhua, October 8, 2020
Adjust font size:

SEOUL, Oct. 8 (Xinhua) -- LG Electronics, South Korea's tech giant, announced on Thursday the biggest third-quarter earnings this year.

Preliminary figure for operating profit amounted to 950 billion won (823.9 million U.S. dollars) in the July-September quarter, up 22.7 percent from a year earlier.

Revenue grew 7.8 percent over the year to 16.92 trillion won (14.7 billion U.S. dollars) in the third quarter.

Both revenue and operating profit marked the biggest third-quarter reading in the company's history, the company said.

The third-quarter profit beat market expectations of about 850 billion won (737.2 million U.S. dollars).

The better-than-expected earnings were attributed to a partial recovery in global demand for consumer electronics, such as TVs, following the downturn from the COVID-19 outbreak across the world.

The COVID-19 pandemic increased the online sale, contributing to the lower marketing cost. Enditem

Follow China.org.cn on Twitter and Facebook to join the conversation.
ChinaNews App Download
Print E-mail Bookmark and Share

Go to Forum >>0 Comment(s)

No comments.

Add your comments...

  • User Name Required
  • Your Comment
  • Enter the words you see:   
    Racist, abusive and off-topic comments may be removed by the moderator.
Send your storiesGet more from China.org.cnMobileRSSNewsletter