LG Energy Solution Ltd. reported preliminary second-quarter earnings that missed analyst estimates, as lackluster support for electric vehicles in key markets like the US failed to offset surging demand for energy storage systems.
Operating profit stood at 113.3 billion won ($74 million) in the three months ended June 30, South Korea's largest battery maker said in a regulatory filing Tuesday. That fell short of analyst estimates of 210.7 billion won.
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Without US tax credits for advanced manufacturing, the company would have posted a 127.7 billion won loss, the Seoul-based company said. Revenue jumped almost 25% to 7.6 trillion won. Final results are due later this month.
(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)
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