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South Korea’s LGES, which also sells EV batteries to automakers including General Motors Co (NYSE:GM), Ford Motor (NYSE:F) Co and Volkswagen AG (OTC:VWAGY) among others, reported operating profit of 522 billion won ($365.12 million)for the July-September period, compared with a 373 billion won loss a year earlier and a Refinitiv SmartEstimate of 488 billion won profit drawn from 17 analysts.
Revenue for the quarter rose 90% to 7.6 trillion won, LGES said in a regulatory filing.
Shares of LGES, carved out of LG Chem Ltd in a market debut in January, were trading up 1.8% in morning trade, versus the benchmark KOSPI‘s 0.3% rise.
($1 = 1,429.6500 won)
