What They Say
LG posted a profit of $260 million for Q2, up from a loss last year, on sales of $14.86 billion. The result was a bit lower than the guidance and analyst estimates. The result included a loss from the closure of the solar cell business.
The TV and audio business dropped to a loss of $14 million down from a profit of $253 million last year. The IT group saw sales up 18.8% to $1.17 billion but profits were down because of higher material and logistics costs. Vehicle Components were up 19% and that business was profitable for the first time.
What We Think
The company is hoping for a boost from the World Cup at the end of this year as well as some boost from Black Friday sales. (BR)
