SEOUL, July 7 (Xinhua) -- South Korea's tech giant LG Electronics saw a double-digit fall in operating profit in the second quarter on an economic fallout from the COVID-19 outbreak, regulatory filing showed Tuesday.
The preliminary figure for consolidated operating profit amounted to 493.1 billion won (412.5 million U.S. dollars) in the April-June quarter, down 24.4 percent from a year earlier.
Revenue slumped 17.9 percent over the year to 12.83 trillion won (10.7 billion U.S. dollars) in the second quarter.
The double-digit reduction came as the coronavirus pandemic caused the closedown of factories and offline stores, worsening the earnings of LG that depends heavily on consumer electronics for profit.
The second-quarter profit beat market expectations of about 430 billion won (360 million U.S. dollars) owing to the reopening of offline stores in Europe and the United States in June. Enditem
