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LG Guidance Shows Profit & Revenue Growth, But Comes In Under Expectations

Mobile division a drag on quarterly performance 7/07/2017 10:00:00 AM Eastern

LG Electronics' Q2 earnings guidance showed an increase in both operating profit and revenue over last year's period, but failed to meet analysts' expectations.

Operating profit and revenue for the quarter increased by 14 percent and 3.9 percent, respectively, coming in at about $574.49 million in profit, on $12.6 billion in revenue.

The disappointment stems from the company's mobile division, which will see an operating loss for the ninth quarter in a row, despite introducing its new flagship G6 smartphone in Q1. While the phone has gained accolades from critics, sales have been slower than expected and the marketing costs associated with a new flagship intro likely ate away at revenue.

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