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LG Electronics Delivers Estimate-beating Q2 Earnings amid Pandemic

LG Electronics Delivers Estimate-beating Q2 Earnings amid Pandemic

SEOUL, July 7 (Korea Bizwire) – LG Electronics Inc. on Tuesday delivered market estimate-beating second-quarter earnings as its home appliance business apparently performed better than expected amid the novel coronavirus pandemic. In its earnings guidance, South Korea’s No. 2 electronics firm estimated its operating profit to be 493.1 billion won (US$412 million) for the April-June [...]

Samsung Q2 Earnings Beat Estimate on Chip Biz, One-time Gains

Samsung Q2 Earnings Beat Estimate on Chip Biz, One-time Gains

SEOUL, July 7 (Korea Bizwire) – Samsung Electronics Co. on Tuesday expected a stronger than expected second-quarter performance as solid demand for server chips appeared to offset a slump in smartphone sales amid the novel coronavirus pandemic, while one-time gains in the display business also helped push up its bottom line. In its earnings guidance, [...]

Samsung’s Q1 Smartphone Shipments Down 18 pct on Virus Impact

Samsung’s Q1 Smartphone Shipments Down 18 pct on Virus Impact

SEOUL, May 26 (Korea Bizewire) — Samsung Electronics Co.’s smartphone shipments plunged 18 percent on-year in the first quarter of the year amid the novel coronavirus pandemic, a report showed Tuesday, although it remained the top smartphone vendor around the globe. The South Korean tech firm shipped 59 million smartphones in the January-March period, down [...]

Listed Companies’ Q1 Net Plunges amid Coronavirus

Listed Companies’ Q1 Net Plunges amid Coronavirus

SEOUL, May 19 (Korea Bizwire) — South Korean listed companies’ profits almost halved in the first quarter of the year, data showed Tuesday, an apparent fallout from the new coronavirus outbreak. The combined net profit of 592 nonfinancial companies listed on the main bourse came to 11.03 trillion won (US$8.99 billion) in the January-March period, [...]

Online Lender Kakao Bank’s Q1 Net Almost Triples

Online Lender Kakao Bank’s Q1 Net Almost Triples

SEOUL, May 6 (Korea Bizwire) — South Korea’s top internet-only lender Kakao Bank said Wednesday its first-quarter net profit nearly tripled due mainly to increased interest income. Net profit came to 18.5 billion won (US$15.2 million) in the January-March period, up about 181 percent from a year earlier, the lender said in a regulatory filing. [...]