LG Electronics Q3 Profit Climbs, But EBITDA Down With Weak Sales

(RTTNews) - LG Electronics Ltd. (LGEPF.OB, LGEJY.OB, LGEIY.OB, LGEAF.OB), a South Korean consumer electronics major, on Friday reported significantly higher net profti in its third quarter, but operating income and EBITDA were lower than last year with weak sales.

In the third quarter, net income attributable to Controlled shares surged to 385.1 billion Korean won from last year's 48.6 billion won.

Operating profit, meanwhile, fell to 688.9 billion won from prior year's 751.9 billion won. Operating margin was 3.1 percent, lower than 3.4 percent a year ago.

EBITDA, a key earnings metric, dropped to 1.59 trillion won from prior year's 1.69 trillion won.

Consolidated sales fell 1.4 percent to 21.87 trillion won from prior year's 22.18 trillion won.

The company said the slight drop in revenue mainly reflected a slowdown in the display business caused by global demand contraction and intensified competition.

In South Korea, LG Electronics shares were trading at 88,300.00 won, up 0.80%.

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