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LG Corp. profit misses consensus by 50.8% in Q1

LG Corp. said its first-quarter normalized net income came to 732.84 South Korean won per share, compared with the S&P Capital IQ consensus estimate of 1,490.16 won per share.

EPS rose year over year from 708.08 won.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 126.39 billion won, a gain from 124.58 billion won in the prior-year period.

The normalized profit margin declined to 5.9% from 6.0% in the year-earlier period.

Total revenue increased on an annual basis to 2.154 trillion won from 2.082 trillion won, and total operating expenses rose on an annual basis to 1.954 trillion won from 1.887 trillion won.

Reported net income decreased 5.3% on an annual basis to 164.95 billion won, or 956.43 won per share, from 174.11 billion won, or 989.60 won per share.

As of May 15, US$1 was equivalent to 1,083.65 South Korean won.