LG Electronics reports decline in third-quarter operating profits

South Korean tech giant LG Electronics has announced preliminary results for the third quarter, reporting consolidated revenue of 22.17 trillion Korean won ($16.5 billion) and an operating profit of 751.1 billion won.

The company said its operating profit declined compared to the same period last year due to increased logistics and marketing expenses in the second half of 2024.

The company achieved record-high quarterly revenue, marking its fourth consecutive quarter of year-on-year revenue growth.

For the first three quarters of 2024, cumulative revenue was 64.96 trillion Korean won, with an operating profit of 3.28 trillion Korean won.