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LG Corp. profit beats consensus by 28.8% in Q2

LG Corp. said its second-quarter normalized net income was 1,986.66 South Korean won per share, compared with the S&P Capital IQ consensus estimate of 1,542.02 won per share.

EPS increased 35.4% year over year from 1,467.03 won.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 342.63 billion won, a gain of 32.9% from 257.89 billion won in the prior-year period.

The normalized profit margin increased to 12.0% from 10.6% in the year-earlier period.

Total revenue grew 19.1% on an annual basis to 2.899 trillion won from 2.434 trillion won, and total operating expenses rose 15.7% year over year to 2.331 trillion won from 2.015 trillion won.

Reported net income rose 40.5% year over year to 504.30 billion won, or 2,924.10 won per share, from 358.88 billion won, or 2,041.54 won per share.

As of Aug. 14, US$1 was equivalent to 1,139.03 South Korean won.