LG Electronics boasts record full-year 2017 revenues, 'narrowed' Q4 smartphone losses
The company credits premium home appliances and TVs for its strong performance in the year, with Q4 2017 alone seeing revenues of $15.3 billion.
The revenue increased 10.9 percent compared with the previous year, with the operating profit jumping 84.5 percent. That is an improvement on 2016, which saw a 10.8 percent year-on-year sales drop versus total sales in 2015. Quarterly operating income declined to KRW 80.7 billion (USD 72.8 million) because of increased marketing expenses related to LG SIGNATURE, infrastructure investments in North America and R&D expenditures related to AI appliances and robots.
The Home Entertainment division also showed its best performance, posting 1.57 trillion won in operating profit on the rise of organic light-emitting diode TV products.
Fourth quarter mobile revenues checked in at KRW 3.07 trillion ($2.77 billion) albeit with a quarterly operating loss of KRW 213.2 billion ($192.33 million). The unit's operating profit surged 133.8 percent to KRW 383.5 billion ($362 million) in the quarter.
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SL Green Realty Corp
The real estate investment trust reported $1.63 EPS for the quarter, topping analysts' consensus estimates of ($0.02) by $1.65. With 42,100 avg volume, 0 days are for LONGWEI PETROLEUM (OTCMKTS:LPIH)'s short sellers to cover LPIH's short positions.
Great Plains Energy Inc (NYSE:GXP) Position Lowered by OppenheimerFunds Inc
Investors sentiment is 1.13 in 2017 Q3. 183.40 million shares or 0.31% less from 183.97 million shares in 2017Q2 were reported. It improved, as 14 investors sold COT shares while 29 reduced holdings. 115 funds opened positions while 233 raised stakes.
2017 was a pretty great year for Samsung, even though the world's number one smartphone vendor, chipmaker and TV manufacturer lost an important battle towards the end in a pivotal mobile market.
In its press statement, LG cites the "challenging marketplace and strong competition from Chinese brands" as two main reasons for its lack of success in this area.
Of course, LG's all-time high annual revenue of KRW 61.4 trillion (USD 55.4 billion) is nothing compared to what Samsung will probably report for the entire past year after posting overall earnings of KRW 62.05 trillion in the July - September quarter alone. The company's fourth-quarter 2017 profitability declined due to a temporary decrease in sales in the infotainment business and investments in new business.
LG G7 was restarted, meaning that we're probably not going to see it announced at MWC 2018. For those unable to participate, an audio recording of the news conference will be available for a period of 30 days after the conclusion of the call.
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