LG Electronics' third-quarter profit estimate fell 24% short of forecasts

LG Electronics revealed a strong financial performance in the third quarter, primarily fueled by the thriving performance in its home appliance and auto parts sectors, according to a regulatory filing released on Wednesday. The tech giant reported an operating profit of 781.8 billion won ($583 million) for the July-September quarter, marking a 13.5 percent increase compared to the same period last year.

The company's revenue also climbed 8.9 percent to 23.82 trillion won. LG Electronics credited this growth to the robust sales of its core businesses and the steady expansion of its business-to-business (B2B) operations. The company's home appliance and vehicle solutions divisions exhibited solid profitability, while its TV division also showed improved profitability compared to the previous year.

For the first nine months of the year, LG Electronics' sales reached a record high of 71.38 trillion won, a 9.2 percent increase from the previous year. Operating profit also hit a record 4.03 trillion won, a significant 55.9 percent growth. Despite unfavorable external circumstances, such as conflicts in the Middle East, the company maintained its sales growth by staying strong in its core businesses and continuing to expand.