LG Elec.`s operating profit is 505.2 billion KRW 1Q 2016…65.5%↑

Hyunjoo Kang / jjoo@olednet.com

LG Electronics Inc. (LG) today announced its preliminary earnings results for the first quarter of 2016.

Tentative consolidated revenues for the first quarter of 2016 is 13.36 trillion KRW and operating profit is 505.2 billion KRW. Revenues are expected to be 4.5 percent lower than the same period the year prior while operating profit will be 65.5 percent higher year-over-year.

These figures are the tentative consolidated earnings based on K-IFRS. This tentative earnings is provided as a service to investors prior to LG Electronics’ final earnings results including net profit and details regarding each division which will be announced officially later this month.