South Korea’s LG Electronics quarter-three profit likely rose 44 percent year-on-year

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SEOUL (Reuters) – South Korea’s LG Electronics Inc said on Friday its third-quarter operating profit likely rose 44.4 percent from the same period a year earlier, slightly below analysts’ estimates.

An LG Electronics’ logo is pictured on a TV displayed at a shop in Seoul, South Korea, April 26, 2016. REUTERS/Kim Hong-Ji/File Photo

LG, in a regulatory filing, estimated July-September profit at 746 billion won ($659.76 million). That compared with an average 776 billion won forecast by nine analysts recently, according to a Refinitiv poll.

Revenue likely rose to 15.4 trillion won from 15.2 trillion won from a year earlier. That compared with a 15.9 trillion won forecast from 11 analysts.

According to data from Refinitiv, operating losses from LG’s mobile division for the third quarter are expected to be narrower than a year ago.

LG did not elaborate on its performance and will disclose detailed earnings in late October.

Reporting by Heekyong Yang; Editing by Muralikumar Anantharaman

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