LG Innotek Q3 net profit down 25.8% to $71.9 mil.
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5 Articles
(Seoul = Yonhap News) Reporter Im Seong-ho = LG Innotek [011070] reported a consolidated operating profit of 94.8 billion won for the third quarter of this year, down 53.4% from the same period last year...
LG Innotek achieved record-high sales of 6.3671 trillion won in the third quarter, but operating profit remained at 94.8 billion won, down 53.4% from the previous year due to the impact of a falling exchange rate. The company plans to improve profitability by expanding investment in high-performance semiconductor substrates for AI accelerators and servers.
LG Innotek Q3 net profit down 25.8% to $71.9 mil.
LG Innotek, an electronic component manufacturing unit of LG Group, on Tuesday reported a third-quarter net profit of 95.2 billion won ($71.9 million), down 25.8 percent from a year earlier. Operating profit for the July-September period was 94.8 billion won, down 53.4 percent from a year ago, the company said in a regulatory filing. Sales rose 18.6 percent to 6.36 trillion won. The earnings exceeded market expectations. The average estimate of …
LG Innotek surpassed 6 trillion won in revenue for the first time in the third quarter of this year, but its operating profit fell by more than half compared to the same period last year. While the company continued its revenue growth driven by the launch of new iPhones by its major client, Apple, and increased demand for high-value-added semiconductor substrates, the sharp drop in the won-dollar exchange rate weighed on profitability. LG Innote…
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