LG revenues jump nearly 50% to KRW 17 trillion in Q2

News General Global 16 JUL 2021
LG revenues jump nearly 50% to KRW 17 trillion in Q2

LG Electronics has released its preliminary earnings results for the second quarter of 2021. LG reported revenues of KRW 17.1 trillion, which represents an increase of 48.4 percent from the same quarter the previous year and the highest quarterly revenue in the company’s history. Operating profit of KRW 1.1 trillion is expected to be 65.5 percent higher than the second quarter of 2020.

With the official closure of the LG Mobile Communications Company at the end of this month, the unit’s earnings will not be reflected in this quarter’s earnings report and will be treated as discontinued operating losses, LG said. Earnings for the first quarter of 2021 will also be adjusted to reflect this change, to KRW 17.8 trillion in revenues and KRW 1.8 trillion in operating profit.

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