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LG Electronics Q3 profit climbs 311.9% YOY

LG Electronics Inc. said its third-quarter normalized net income was 1,945.99 South Korean won per share, compared with the S&P Capital IQ consensus estimate of 1,838.55 won per share.

EPS climbed 311.0% year over year from 473.47 won.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 350.53 billion won, an increase of 311.9% from 85.11 billion won in the year-earlier period.

The normalized profit margin rose to 2.3% from 0.6% in the year-earlier period.

Total revenue climbed 15.1% year over year to 15.224 trillion won from 13.224 trillion won, and total operating expenses climbed 13.7% from the prior-year period to 14.708 trillion won from 12.941 trillion won.

Reported net income came to 318.11 billion won, or 1,766.00 won per share, compared with a loss of 62.01 billion won, or a loss of 345.00 won per share, in the prior-year period.

As of Nov. 14, US$1 was equivalent to 1,114.97 South Korean won.