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LG posts record Q2; hooray for touchscreens and washing machines

Well it looks like LG Electronics came through in a big way this past quarter as the company reports a very, very solid performance. Maybe its bid to take over the world isn’t so crazy after all. Let’s start with a couple of records — sales rang up at $11.229 billion, a remarkable 13.8 percent jump YoY, and operating profit came in at $878 million. The company also reported a 7.8 percent margin, up 1.1 percent YoY, while margin for its mobile business exploded to 11 percent from 6.7 percent in the previous quarter. On that note, let’s look briefly at LG’s two biggest businesses — discounting a typo that suggests its Business Solutions sales came in at $787 billion (!). Mobile Communications recorded $7.981 billion in sales, an insane YoY jump of 25.8 percent, and operating profit came in at $422 million with a margin of 10.6 percent. LG’s number two was Home Appliances, which did $1.812 billion in sales. Also noteworthy is the fact that LCD TV shipments increased 45 percent YoY to 4.28 million units as LG’s Home Entertainment business recorded a profit of $174 million on $3.492 billion in sales. As far as projections, LG’s sales are expected to rise about 10 percent this quarter but profits are expected to remain relatively flat — not the most exciting outlook but it leaves plenty of room for a pleasant surprise when LG reports Q3.

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Zach Epstein

Zach Epstein has been the Executive Editor at BGR for more than 10 years. He manages BGR’s editorial team and ensures that best practices are adhered to. He also oversees the Ecommerce team and directs the daily flow of all content.

Zach first joined BGR in 2007 as a Staff Writer covering business, technology, and entertainment. His work has been quoted by countless top news organizations, and he was recently named one of the world's top 10 “power mobile influencers” by Forbes. Prior to BGR, Zach worked as an executive in marketing and business development with two private telcos.