LG 1Q17 earnings estimated to beat street predictions

After sliding sales and sliding profit reports that LG attributes to a poor performer in the G5, the company has been able to recover in a rather dormant first quarter.

The Yonhap news agency reports that it has captured a record ‎₩922 billion or about $810 million in operating profit for the first three calendar months of 2017, an 82 percent improvement from last year’s figure. Sales were up 9.7 percent to ₩14.6 trillion, another record amount. A Yonhap average estimate from 20 brokerage firms predicted earnings in the lower ₩600 billion range.

As the V20 continued to trail into new markets throughout the quarter, LG was also busy putting promotions into its LG Signature series of home electronics that range from TVs, refrigerators and washing machines. Of all the TV sales it will make this year, 15 percent of them are expected to be OLED panels.

Pile on a critical praise for the new G6 and it seems the hope is that second quarter numbers will continue the recovery out of the fourth quarter’s operating loss.

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Jules Wang
Jules Wang is News Editor for Pocketnow and one of the hosts of the Pocketnow Weekly Podcast. He came onto the team in 2014 as an intern editing and producing videos and the podcast while he was studying journalism at Emerson College. He graduated the year after and entered into his current position at Pocketnow, full-time.