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LG reports highest quarterly profit in two years

The world's second-biggest TV maker by market share has a strong second quarter, with $504 million in profit.

Korea's LG Electronics is reporting that it had a strong second quarter with operating profit likely reaching a two-year high.

According to Reuters, LG stated in a regulatory filing that April-June profit was likely 585 billion won ($504 million), compared with the average of 599 billion won compiled from 23 analyst estimates in a Thomson Reuters I/B/E/S survey. LG's television set and home appliances businesses led the way, analysts say.

These are the company's best results since 2014, when it reported a 610 billion profit in the second quarter.

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