Quarterly revenue of LG Electronics was less predictable
LG Electronics has predicted that second-quarter operating profit will be 14% more than a year ago. However, preliminary results of the quarter published by the South Korean manufacturer, saying that the forecast was too optimistic.
According to preliminary calculations, the operating profit amounted to about $574,5 million dollars. Income for the year increased by 3.9%, also below expectations.
The culprit of the performance degradation is a mobile unit. Although separate data not yet published, industry observers believe that this division of the ninth consecutive quarter to be unprofitable.
The publication of the preliminary results has led to the fact that the shares of the company fell by 4.2%.