LG Q1 profit beats estimates

22 April 2009

LG Electronics' earnings in the first quarter exceeded analyst estimates, reported Bloomberg. First-quarter operating profit fell 25% to 455.6 billion won ($338m), including revenue from overseas affiliates. That compares with the 287.7 billion won median estimate of 20 analysts surveyed by Bloomberg. The company has forecast higher sales in the current period on increased shipments of handsets and televisions. The company's sales rose 15% to 12.85 trillion won, while first-quarter operating profit fell 25% to 455.6 billion won ($338 million), including revenue from overseas affiliates. LG's net loss was 197.6 billion won, compared with a profit of 422.2 billion won a year earlier.

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