LG is definitely not joking on its ‘Comeback’ mission as its second-quarter preliminary earnings show an increment in the company’s sales
Just a moment after Samsung released its Q2 earnings for 2019, LG has also, today revealed its preliminary earnings reports. However, on the contrary to Samsung’s earnings that shows a massive dip, LG was able to end the first half of the year in grand style. The company expects consolidated revenues for Q2 2019 to be KRW15.6 trillion ($13.3 billion), while the operating profit is KRW652.2 billion ($557 million).
According to LG Newsroom, “These figures are the tentative consolidated earnings based on K-IFRS and are provided as a service to investors prior to LG Electronics’ final earnings results, details which will be officially announced later this month.”
To further buttress on the company’s progressive report, LG expects sales to be 4.1% better than the same quarter last year, but the operating income is going to be 15.4% down on a yearly basis. The Korean company usually does not release any reasons before the full analysis is published, which should happen at the end of this month.
When the Q2 2019 report is out we’ll know whether the mobile division is still bleeding money or the new management is already improving its performance.