LG Electronics Shares Jump as Mobile Results Beat Estimates
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LG Electronics Inc., the world’s third-largest maker of mobile phones, climbed in Seoul trading after the company reported a narrower loss than analysts estimated at the wireless division.
The mobile-phone division had a loss of 53.9 billion won ($51 million) in the three months ended in June, compared with a median estimate for a loss of 80.2 billion won in a Bloomberg News survey of six analysts. That helped total operating profit rise 25 percent to 158.2 billion won, exceeding the 118 billion won average of 8 analyst estimates compiled in the past month.