Seoul: LG Corp. reported a net income of 373.4 billion won (US$254.2 million) for the third quarter, reflecting a 15.7 percent decrease from the same period last year. The financial report, released on Thursday, highlights a challenging quarter for the company.

According to Yonhap News Agency, LG Corp.'s operating profit for the July-September period was recorded at 418.9 billion won, marking a 12.1 percent decline from the previous year. Despite this, the company's revenue saw a modest increase of 2.7 percent, reaching 1.99 trillion won.

The operating profit fell short by 11.6 percent compared to the average estimate, as indicated by a survey conducted by Yonhap Infomax, the financial data division of Yonhap News Agency. However, specific estimates for net profit were not disclosed.