LG Electronics posted third-quarter revenue of 21.88 trillion won ($15.8 billion) and operating profit of 688.9 billion won ($497 million), topping analyst forecasts by more than 10% even as profitability fell 8.4% from a year earlier.
The Seoul-based electronics maker attributed the year-over-year decline to mounting costs from escalating U.S. tariff burdens and a voluntary redundancy program in its television division. South Korea currently faces 15% tariffs on most exports to the U.S. following a July trade deal, down from an initially threatened 25% rate.
The company’s vehicle component solutions business delivered record-high profitability, driven by expanded sales of premium in-vehicle infotainment systems. That helped offset weakness in home appliances, where tariff pressure on U.S. exports and sluggish global demand continued to weigh on results.
LG said its home appliance unit maintained leadership in premium segments while keeping stable mass-market performance through optimized production and growing subscription services. The company plans to diversify revenue through its webOS advertising platform and content offerings.
The initial public offering of LG Electronics India closed last week and is set to list tomorrow, raising 11,607 crore rupees ($1.4 billion) in what was entirely an offer for sale by the Korean parent.
LG said the preliminary figures are based on Korean accounting standards, with detailed divisional results to follow later this month.
