LG Electronics Q3 operating earnings up 13.5% to 781.8 billion won

LG Electronics estimated its third quarter operating profit at 781.8 billion won ($584 million) on Wednesday, up 13.5 percent from a year earlier, driven by solid performance in its home appliance business.

The figure, released in a regulatory filing, was 17 percent below the market consensus of 941.7 billion won compiled by Yonhap Infomax, the financial data arm of Yonhap News Agency.

Sales rose 8.9 percent from a year earlier to 23.82 trillion won. Net profit was not immediately available.

"Despite unfavorable conditions, including the war in the Middle East, our core businesses maintained their strong market positions and continued to grow sales based on differentiated product competitiveness," the Korean tech giant said.

The company said its home appliance and vehicle component businesses were the main profit drivers, while its TV business also significantly improved profitability from a year earlier.

Yonhap