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LG Energy Profit and Sales Easily Beat Forecasts on EV Demand

LG Energy Solution Ltd.’s operating profit was 522 billion won ($369 million) in the three months through September, comfortably beating expectations as demand for electric vehicles and a weak Korean won offset high commodity prices. 

Analysts had on average expected operating profit of 372 billion won for the battery maker. Sales rose 90% to 7.7 trillion won, Seoul-based LG Energy said, also beating the 6 trillion won average forecast. The company posted a loss in the same quarter last year.