Mubasher: LG Electronics Inc. (LG) recorded an 18.5% year-on-year (YoY) increase in revenues to reach $17.53 billion in the first quarter (Q1) of 2022.
The company has witnessed the highest quarterly revenue in its history, according to a recent press release.
Meanwhile, LG's profitability hiked by 6.4% in Q1-22, when compared to the year-ago period, driven by strong demand for the company's home appliances.
The LG Home Appliance & Air Solution Company generated sales of $6.62 billion in the first three months of 2022, up 18.8% from the same quarter last year.
In addition, the sales of LG Home Entertainment and Vehicle Component Solutions Companies reached $3.38 billion and $1.56 billion, respectively.