Seoul: LG Energy Solution Ltd. (LGES) on Monday estimated its third-quarter operating earnings at 601.3 billion won (US$422.8 million), marking a significant 34.1 percent increase from the same period last year. However, the company’s revenue saw a downturn, decreasing by 17.1 percent to 5.69 trillion won. The data for net income was not disclosed.
According to Yonhap News Agency, the reported operating profit surpassed expectations, being 16.5 percent higher than the average estimate gathered from a survey conducted by Yonhap Infomax, the financial data arm of Yonhap News Agency. LG Energy Solution is set to release its final earnings report at a later date.