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LG Corp. profit misses consensus by 21.7% in Q2

LG Corp. said its second-quarter normalized net income was 1,197.48 South Korean won per share, compared with the S&P Capital IQ consensus estimate of 1,529.00 won per share.

EPS rose 19.0% year over year from 1,006.21 won.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 206.52 billion won, a gain of 16.8% from 176.85 billion won in the year-earlier period.

Total revenue came to 2.415 trillion won, compared with 2.409 trillion won in the year-earlier period, and total operating expenses declined on an annual basis to 2.073 trillion won from 2.121 trillion won.

Reported net income rose 13.5% year over year to 294.26 billion won, or 1,706.24 won per share, from 259.21 billion won, or 1,474.87 won per share.

As of Aug. 13, US$1 was equivalent to 1,177.95 South Korean won.