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LG ANNOUNCES THIRD-QUARTER 2020 FINANCIAL RESULTS
" LG Electronics Inc. (LG) today announced third-quarter 2020 consolidated revenue of KRW 16.92 trillion (USD 14.24 billion) and operating profit of KRW 959 billion (USD 807.14 million). Both sales and profits were the highest for a third quarter in 62-year history of LG Electronics. Led by strong growth in home appliances and home entertainment, overall sales increased 7.8 percent and operating income improved by 22.7 percent compared with the same period last year.

The LG Home Appliance & Air Solution Company reported third-quarter revenues of KRW 6.16 trillion (USD 5.18 billion), an increase of 15.5 percent from the same quarter last year and the highest quarterly sales in the company’s history thanks to a growth in demand for steam-capable appliances such as washing machines and Stylers. The company also recorded its highest ever third-quarter operating profit of KRW 671.5 billion (USD 565.2 million) an increase of 56.6 percent from the same quarter last year. Profit margin of 10.9 percent marked the third consecutive double-digit quarter for the company, which expects to maintain this momentum in the fourth quarter with plans to grow profitability even more through better cost optimization.
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https://www.lg.com/levant_en