LG Estimates Q2 2018 Profit At $691 Million In Preliminary Earnings Report

LG has announced its preliminary earnings for its second quarter (April to June), with profits of around 771 billion won or about $691.11 million USD. That misses analysts expectations of around 821 billion won. This comes after LG posted its best quarterly profits in nearly nine years, during the January to March quarter. Revenue for the quarter did increase around 3.2-percent, from the same period a year ago. That was 15 trillion won for the quarter, which is actually also below analyst expectations of 15.5 trillion won. LG did not break down its revenue and profit by division, seeing as these are preliminary results and not the final results, which will be announced at the end of July.

The South Korean company believes that its profit margin was down a bit for the quarter due to increased marketing costs in the TV and appliances sector. LG is one of the largest TV makers in the world, behind only Samsung right now. Though in the first quarter, LG did pick up a good chunk of market share from Samsung, coming in at around 33-percent market share worldwide. Appliances is another sector where LG is doing pretty well, but the mobile market is where LG is likely still struggling. As mentioned, LG did not break down its numbers by sector, but it's very possible that LG Mobile is still in the red, as it has been for quite a few years now. That's no surprise, seeing as there are only two smartphone makers actually turning a profit - Samsung and Apple.

LG will be releasing it's official quarterly report earlier this month. All of these numbers came from regulatory filing that each company needs to file for each quarterly earnings report, and does come out a few weeks beforehand. These numbers may change before the final earnings report comes out later this month, as some numbers are adjusted for different reasons. But they won't change too much.

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Alexander Maxham

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Alex has written for Androidheadlines since 2012 as Editor of the site and traveled the World to many of the biggest Smartphone and Technology events. Alex has a background in Technology and IT and Deep Passion for Everything Android and Google. His specialties lay in Smartphones of all budgets, Accessories, Home Automation and more. Contact him at [email protected]