LG announced its quarterly results expectations for October-December 2016. The preliminary earnings results show sales revenue of 14,78 trillion Korean Won (about $11,8 billion). This is 11.8% more than Q3 when sales got to 13,224 trillion KRW / $10,5 billion.
This holiday season was better compared to last year, although the YoY growth stands at the more conservative 1.5%.
Even though sales are up, the earnings before interest and taxes is actually negative value – there is 35,3 billion KRW loss. This translates to $28,2 million and is the first quarterly operating loss for LG Electronics in six years. Back in October the company stated the decline is expected due to weaker performance of the appliances business and higher promotional expenses.
2016 has been another year where mobile devices wasn"t a great contributor for LG Electronics. Despite bringing plenty of innovation the G5 and V20 couldn"t quite make a dent – hopefully things will pick up in 2017..
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