LG Elec Q4 profit jumps 25 pct, helped by cellphone division
SEOUL Jan 30 (Reuters) - LG Electronics Inc, the world's No.2 TV maker, reported a 25 percent rise in quarterly operating profit on Wednesday, as its cellphone division swung back to the black.
October-December operating profit came in at 107 billion korean won ($98.84 million), below a consensus forecast for 151 billion won by 32 analysts surveyed by Thomson Reuters I/B/E/S.
The company was hit by an increase in promotional costs during the year-end holiday season as it sought to boost its TV market share.
The result was broadly in line with a 116 billion won profit forecast by Thomson Reuters StarMine's SmartEstimate, which places more emphasis on timely projections from the most accurate analysts.
Predictions from SmartEstimate analysts cited the impact of strength in South Korea's currency as well as LG's underperforming TV business.
- China food scandal spreads, drags in Starbucks, Burger King and McNuggets in Japan |
- U.S. court rulings create new uncertainty over Obamacare
- Israel pounds Gaza despite international peace efforts |
- EU readies possible capital, tech sanctions on Russia
- Islamic State crushes and coerces on march towards Baghdad