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LG Electronics expects Q2 earnings to decrease 12% on weaker demand
TIWN
TIWN
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Seoul, July 8 (TIWN) LG Electronics on Thursday estimated its second-quarter operating profit decreased 12 per cent year-over-year on weaker demand for TV and home appliances amid rising inflation and raw material costs.
Its earnings guidance for the April-June period showed the tech company's operating profit declined 12 percent from a year ago to 791.7 billion won ($610.5 million). The operating profit was 1.2 per cent lower than the average estimate, according to the survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.
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