Late Tuesday, LG Reported Preliminary 3Q23 Results: Consolidated Revenues Of KRW 20.7T And Operating Profit Of KRW 996.7B
Portfolio Pulse from Benzinga Newsdesk
LG has reported its preliminary 3Q23 results, with consolidated revenues of KRW 20.7 trillion and an operating profit of KRW 996.7 billion. These figures are the second highest third-quarter figures in the company's history. The growth was driven by the home appliances and vehicle solutions businesses, despite the economic slowdown and prolonged decline in demand. The operating profit increased by more than 30 percent compared to the same period last year and the second quarter of 2023.
October 11, 2023 | 6:57 am
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POSITIVE IMPACT
LG's strong 3Q23 results, driven by its home appliances and vehicle solutions businesses, could positively impact its stock. The company's operating profit increased by more than 30 percent compared to the same period last year and the second quarter of 2023.
The strong financial results reported by LG for 3Q23, particularly the significant increase in operating profit, indicate a positive financial health of the company. This could lead to increased investor confidence and a potential rise in the company's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100