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LG Corp. profit beats consensus by 86.8% in Q1

LG Corp. said its normalized net income for the first quarter amounted to 2,768.31 South Korean won per share, compared with the S&P Capital IQ consensus estimate of 1,481.92 won per share.

EPS rose 139.4% year over year from 1,156.47 won.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 477.43 billion won, an increase of 134.8% from 203.33 billion won in the prior-year period.

The normalized profit margin climbed to 18.3% from 9.5% in the year-earlier period.

Total revenue climbed 23.0% year over year to 2.643 trillion won from 2.149 trillion won, and total operating expenses increased 11.9% from the prior-year period to 2.036 trillion won from 1.820 trillion won.

Reported net income increased 139.3% from the prior-year period to 713.47 billion won, or 4,136.91 won per share, from 298.19 billion won, or 1,695.97 won per share.

As of May 15, US$1 was equivalent to 1,116.40 South Korean won.