January 25, 2018 / 6:52 AM / 7 months ago

LG Electronics swings back to operating profit in fourth-quarter

SEOUL (Reuters) - South Korea’s LG Electronics Inc said on Thursday it swung to an operating profit of 366.9 billion won in the fourth quarter after reporting a loss a year earlier, matching its guidance from earlier this month.

A man talking on his phone walks past the logo of LG Electronics during Korea Electronics Show 2016 in Seoul, South Korea, October 27, 2016. REUTERS/Kim Hong-Ji

While strong sales of televisions and appliances lifted LG Electronics’ results, analysts say that increased investment to expand its share of the home electronics market weighed on operating profit.

Revenue for the October-December period rose 15 percent from a year ago to 17 trillion won, the company said.

Reporting by Ju-min Park and Joyce Lee; Editing by Malcolm Foster

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