SEOUL, Oct. 27 (Xinhua) — South Korean tech firm LG Electronics recorded a double-digit growth in its third-quarter operating profit due to strong sales of home appliances and automotive parts, the company said Friday.
Operating profit jumped 33.5 percent from a year earlier to 996.7 billion won (736.9 million U.S. dollars) in the July-September quarter.
It topped market expectations of about 798 billion won (590 million dollars).
Revenue shrank 2.2 percent to 20.71 trillion won (15.3 billion dollars) compared to the company’s third-quarter high of 21.18 trillion won (15.7 billion dollars) a year earlier.
Net income surged 44.2 percent over the year to 485.2 billion won (358.7 million dollars) in the third quarter.
The home appliance unit posted an operating profit of 504.5 billion won (372.2 million dollars) on revenue of 7.46 trillion won (5.5 billion dollars) in the third quarter.
The operating profit more than doubled compared to the same quarter of last year.
The vehicle component business generated a record-high operating profit of 134.9 billion won (99.5 million dollars) on revenue of 2.5 trillion won (1.8 billion dollars).
The TV-manufacturing division logged an operating profit of 110.7 billion won (81.7 million dollars) on revenue of 3.57 trillion won (2.6 billion dollars).
The business solutions unit registered an operating loss of 20.5 billion won (15.1 billion dollars) on revenue of 1.33 trillion won (981.2 million dollars).
