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LG CNS announced its third quarter consolidated results, with revenue of 1.6643 trillion won and operating profit of 138.2 billion won, up 9.3% and 15.0% year-on-year respectively, while the operating margin rose to 8.3%. According to The Elec, revenue from the financial IT business grew 21.3% to 408.2 billion won, and revenue from the AI and cloud business grew 9.3% to 961.5 billion won, accounting for 57.8% of total revenue. The same report also mentioned that in September the company decided to purchase equipment worth 381.4 billion won, including Nvidia's next-generation Vera Rubin GPUs, for building an AI factory. There are currently no subsequent developments in this matter.
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LG CNS Q3 operating profit up 15%, financial IT revenue up 21%Developments
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Oct 30
The Elec
LG CNS Q3 operating profit up 15%, financial IT revenue up 21%
LG CNS reported Q3 revenue of 1.6643 trillion won and operating profit of 138.2 billion won, up 9.3% and 15.0% year-on-year respectively, with operating margin rising to 8.3%. Financial IT business revenue grew 21.3% to 408.2 billion won, while AI and cloud business revenue grew 9.3% to 961.5 billion won, accounting for 57.8% of total revenue. In September, the company decided to purchase equipment worth 381.4 billion won, including Nvidia's next-generation Vera Rubin GPUs, to build an AI factory.