LG Electronics announced on July 30 that it achieved a record revenue of 23.83 trillion won and an operating profit of 1.58 trillion won for the second quarter. Both figures represent the highest ever recorded for the second quarter. Compared to the same period last year, revenue increased by 14.9%, while operating profit surged by 147%.
Despite unfavorable external conditions, including conflicts in the Middle East, the company leveraged its competitive edge in home appliances to drive revenue growth. The impact of sports events and growth in the automotive business also contributed to the overall revenue expansion.
The company’s operating profit more than doubled compared to the previous year. Strong fundamentals in its core businesses, along with the effects of revenue growth and an increased share of high-value product sales, played a significant role. Efforts to improve cost competitiveness across all operations and proactive measures in response to uncertainties in the business environment also contributed to enhanced profitability. Additionally, the company recognized a one-time gain from tariff refunds on exports to the U.S. last year.
In the second quarter, business-to-business (B2B) revenue reached 6.5 trillion won, marking a 5% increase from the same period last year. Excluding LG Innotek, the B2B segment accounted for 36% of total revenue. Revenue from subscription services, including products and services, reached 660 billion won, with continued expansion in overseas markets.
* This article has been translated by AI.
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