LG Uplus Q2 net income down 22.8 pct to 164.6 bln won

LG Uplus Corp. on Wednesday reported its second-quarter net profit of 164.6 billion won (US$119.6 million), down 22.8 percent from a year earlier. The company said in a regulatory filing that it posted 254 billion won in operating profit for the quarter, compared with 288 billion won a year ago. Sales rose 1.9 percent to 3.49 trillion won. The earnings exceeded market expectations. The average estimate of net profit by analysts stood at 161.4 billion won, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency. Source: Yonhap News Agency