LG preliminary earnigs report reveals highest ever holiday quarter profit

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LG has posted its preliminary earnings report for Q4 2020, as well as the the full calendar year. The early numbers look promising – the Korean company posted KRW18.8 trillion ($17.21 billion) revenue and KRW 647 billion ($590 million) of operating profit, the highest ever for the October-December period.

LG Twin Towers HQ in Seoul, South Korea
LG Twin Towers HQ in Seoul, South Korea

That’s an increase in revenue by 15% while profit jumped by 536%, although admittedly from a much smaller base.

The full year also saw a record-breaking sales performance, with LG surpassing KRW60 trillion for the fourth year in a row – the number stood at KRW 63.3 trillion ($58 billion). Operating profit is expected to be KRW3.2 trillion ($2.9 billion), a 31% increase over 2019.

The full results are expected at the end of the month when we’ll see a detailed list of how each division performed. We’re going to be on the lookout for the mobile business because LG hasn’t been releasing a lot of phones in the past three months and we’re wondering what the numbers have to say about that.

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