By Kwanwoo JunLG Electronics expects its fourth-quarter operating profit to jump on the year but slump sequentially, as it struggled with delayed demand recovery for home appliances. The South Korean consumer-electronics giant on Monday said it expects an operating profit of 312.50 billion won ($237.8 million) for the October-December quarter, compared with KRW69.30 billion in the same period a year earlier and KRW996.70 billion in the previous quarter. Revenue is expected to rise 5.9% on year to KRW23.157 trillion for the December quarter, it said in its preliminary earnings forecast. For the full year of 2023, operating profit is expected to fall 0.1% to KRW3.549 trillion while revenue is expected to rise 1.0% to KRW84.280 trillion. LG Electronics is due to release its full quarterly earnings later this month.

Source: Wall Street Journal January 08, 2024 07:06 UTC