South Korea’s tech giant LG Electronics said Tuesday it made a net profit in the first quarter of 2014 following a net loss the previous year.
Net profit came to 92.5 billion won ($89.5 million) in the January-March period, improving from the net loss of 63.4 billion won posted a year earlier, LG Electronics said in a regulatory filing.
Revenue edged up 1.2 percent on-year to 14.2 trillion won, and operating profit surged 44.2 percent to 503.9 billion won, it said.
For all of 2013, LG Electronics’ net income reached 222.7 billion won, up 116.6 percent from the previous year, with its revenue and operating profit also advancing to 58.1 trillion won and 1.2 trillion won, respectively.
Analysts earlier expected LG’s first-quarter revenue to be 14.2 trillion won, with its operating profit and net profit standing at 315.4 billion won and 131.4 billion won. (Yonhap)
