LG Announces Second-Quarter 2023 Financial Results

SEOUL, July 27, 2023 — LG Electronics Inc. (LG) today announced second-quarter 2023 consolidated revenue of KRW 20 trillion with operating profit of KRW 741.9 billion.
 
The company recorded the highest second-quarter revenues in company history. The second-quarter results underscore the success of the company’s strategy to drive continuous growth while strengthening its business competitiveness. The record revenue reflects the company’s actions to fundamentally improve its business structure by pursuing new platform-based service businesses and continuously expanding the business-to-business (B2B) segments. Profitability also was strong, although operating income was 6.3 percent lower than the second quarter last year, primarily due to a one-time second-quarter 2023 provision.