LG Electronics Inc. on Wednesday expected its best-ever quarterly performance in the first quarter as its home appliance and TV sales apparently basked in pent-up demand amid the pandemic.
In its earnings guidance, the South Korean tech firm projected its operating profit at 1.51 trillion won (US$1.3 billion) for the first three months of 2021, up 39.2 percent from a year earlier.
LG also expected its first-quarter sales at 18.8 trillion won for the January-March period, up 27.7 percent from a year earlier. The figure is also above the market consensus of 17.9 trillion won.
Should its forecast stand, both sales and operating profit will be the largest for any quarter in its history, beating revenue of 18.78 trillion won in the fourth quarter of 2020 and operating income of 1.24 trillion won in the second quarter of 2009.
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