South Korea’s tech giant LG Electronics posted its record earnings for the second quarter, driven by strong sales of home appliances and electric vehicle parts, the company said Thursday.
The company’s operating profit soared 147 percent from a year earlier to 1.58 trillion won (about 1.1 billion U.S. dollars) in the April-June quarter, marking the highest second-quarter performance in its history.
Revenue jumped 14.9 percent to achieve its second-quarter high of 23.83 trillion won, and net income spiked 28.1 percent to 781.3 billion won.
Despite unfavorable external factors such as geopolitical tensions in the Middle East, LG sustained earnings growth thanks to solid demand for home appliances and electric vehicle components.
The home appliance business generated an operating profit of 685.9 billion won with revenue of 7.08 trillion won in the April-June quarter.
It marked the division’s first time to surpass 7 trillion won in revenue in a single quarter, logging a robust operating profit margin of nearly 10 percent.
