LG Electronics today announced its preliminary earnings results for the first quarter of 2017, which will be announced later this year. The company expects to make 14.7 trillion Korean won and operating profit of 921.5 billion korean won. It expects revenues to be 9.7% higher and operating profit 82.4% higher than the same period last year, ts second-best in quarterly profits ever.
| 2017 1Q(Estimated) | 2016 4Q | QoQ | 2016 1Q | YoY | |
| SALES | 14,660.5 | 14,777.7 | -0.8% | 13,362.1 | 9.7% |
| OPERATING PROFIT | 921.5 | -35.2 | N/A | 505.2 | 82.4% |
LG posted its highest ever profit back in the Q2 2009, which is 1.24 trillion won. The company’s mobile division is expected to post less of a loss than before, after seven straight quarters of loss since the second quarter of 2015.
LG G6 went on sale in Korea last month and it went on sale in the U.S. through 11 North American mobile carriers including Verizon, Sprint, AT&T, T-Mobile and US Cellular and in Canada starting today, April 7th.
The company recently announced that it will roll out in Asia, Europe, Central and South Americas, CIS, Middle East, Africa and more regions over the course of the next several weeks through about 200 carriers and operators worldwide.