close

News WrapGet Handpicked Stories from our editors directly to your mailbox

LG Electronics says 2014 profit up 46%, meets estimates

The result was largely in line with analysts` estimates for a 1.9 trillion won profit. LG said it had made a 1.2 trillion won profit for 2013. 

LG Electronics says 2014 profit up 46%, meets estimates

Seoul: South Korea`s LG Electronics Inc on Wednesday said its 2014 operating profit rose 46 percent to 1.8 trillion ($1.66 billion), buoyed by strong demand for television sets as well as a turnaround in its smartphone business.

The result was largely in line with analysts` estimates for a 1.9 trillion won profit. LG said it had made a 1.2 trillion won profit for 2013. 

For the October-December quarter alone, LG booked a profit of 257 billion won, according to Thomson Reuters calculations based on the electronic goods maker`s prior disclosures. 

That was slightly below the average forecast of 299 billion won made in a Thomson Reuters I/B/E/S survey of 35 analysts. Earnings for the previous three quarters are subject to revision, however, meaning that LG Electronics could report a different quarterly profit figure. 

The company will disclose details for its fourth-quarter results on Thursday. An LG spokesman declined to comment on specifics for the period.