LG Electronics’ earnings not looking good for 2022

But its operating profit will grow in 2023 fiscal year.

South Korea’s LG Electronics will post lower operating profit in 2022 but it will improve in 2023, CGS-CIMB said in its report.

The analyst anticipated that LG Electronics' (LGE) 4th quarter 2022 sales will be KRW23.1t (approximately £15.2b), an increase of 9% quarter-on-quarter (QoQ) and 10% year-on-year (YoY).

However, CGS-CIMB expects the company's operating profit for the same period to be KRW4.2t (approximately £2.7b), a decrease of 44% QoQ and 38% YoY.

This is largely due to high marketing costs during the Black Friday sales period.

LGE's home entertainment and business solutions business units to post operating losses for the fourth quarter of 2022.

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