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LG Corp. profit beats consensus by 18.7% in Q3

LG Corp. said its normalized net income for the third quarter amounted to 3,428.28 South Korean won per share, compared with the S&P Capital IQ consensus estimate of 2,889.08 won per share.

EPS climbed 222.6% year over year from 1,062.72 won.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 602.52 billion won, a gain of 222.5% from 186.83 billion won in the prior-year period.

The normalized profit margin climbed to 20.1% from 7.7% in the year-earlier period.

Total revenue rose 23.0% on an annual basis to 3.003 trillion won from 2.441 trillion won, and total operating expenses rose 14.4% on an annual basis to 2.425 trillion won from 2.121 trillion won.

Reported net income rose 204.8% on an annual basis to 807.80 billion won, or 4,596.35 won per share, from 265.06 billion won, or 1,507.74 won per share.

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