LG Electronics estimates Q1 operating profit down 5.7% at $856.7M

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LG Electronics estimates Q1 operating profit down 5.7% at $856.7M

Published: 07 Apr. 2025, 11:57 Updated: 07 Apr. 2025, 14:57

KIM JU-YEON
[email protected]

LG Electronics logo [LG ELECTRONICS]

LG Electronics on Monday estimated its first quarter operating earnings at 1.25 trillion won ($856.7 million), down 5.7 percent on year despite record-high revenue for that period.

The home appliance firm’s revenue was estimated at 22.74 trillion won in the first quarter, up 7.8 percent from the previous year, according to LG Electronics’ electronic filing.

The operating profit was 6.2 percent lower than the average estimate by six securities firms surveyed and compiled by Yonhap Infomax. Revenue exceeded analysts’ estimates.

LG attributed its high first quarter sales to strong performances in premium home appliances, business-to-business transactions for built-in appliances and subscription to its non-hardware products including the WebOS platform.

The firm will release a solidated earnings report toward the end of April.

LG Electronics shares were trading at 69,600 won at 11:00 a.m. on Monday, down 4.4 percent from the previous trading session.

BY KIM JU-YEON [[email protected]]