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LG Electronics (KRX: 066570) reported a robust first-quarter performance, with net profit soaring 50% year-over-year to 875.60 billion won ($613.4 million), outpacing market expectations. Analysts surveyed by FactSet had projected a net profit of 671.09 billion won, making LG’s results a significant beat.
The South Korean tech giant demonstrated resilience amid global economic uncertainties and a sluggish rebound in consumer demand for home appliances and TVs. The latest figures also mark a sharp turnaround from the net loss posted in the prior quarter.
Revenue for the January–March period climbed 7.8% to 22.740 trillion won, supported by steady performance across its core product lines. However, operating profit dipped 5.7% from a year earlier to 1.259 trillion won, aligning with preliminary estimates issued earlier by the company.
While traditional segments faced headwinds, LG continues to pivot toward long-term growth drivers. In particular, its heating, ventilation, and air-conditioning (HVAC) business is gaining strategic attention as the company aims to diversify revenue streams and stabilize earnings.
The earnings announcement reflects LG’s ability to adapt to shifting consumer trends and economic headwinds while continuing to innovate in emerging sectors. This solid financial performance strengthens investor confidence as LG navigates a competitive global electronics landscape.
