LG Electronics' net for Q3 is below expectations
![LG Electronics office building in Yeouido, western Seoul [NEWS1]](https://koreajoongangdaily.joins.com/data/photo/2022/10/28/824f6160-df38-4e86-a18b-30e408ecc548.jpg)
LG Electronics office building in Yeouido, western Seoul [NEWS1]
LG Electronics reported a net profit of 336.5 billion won ($236.6 million) for the third quarter, down 34.8 percent on year and short of analyst expectations of 414.7 billion won compiled by market tracker Company Wise.
LG Electronics’ operating profit rose 25.1 percent to 746.6 billion won, missing a market forecast of 876.3 billion won.
Sales were a record 21.17 trillion won, up 14.1 percent, above the consensus of 20.2 trillion won.
Both the operating profit and sales were in line with preliminary figures reported on Oct. 7.
LG Electronics cited strong sales of home appliances and auto parts despite sluggish demand as a result of high inflation.
BY SHIN HA-NEE [shin.haee@joongang.co.kr]
with the Korea JoongAng Daily
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