Telecommunications & Media

LG HelloVision Q2 operating profit 3 billion won, down 71.7 percent on year

LG HelloVision said second-quarter operating profit on a consolidated basis fell 71.7 percent from a year earlier to 3 billion won. Revenue dropped 31.3 percent to 243.3 billion won and net profit was 1.1 billion won. Sales fell 4.7 percent and operating profit slid 41.8 percent from the previous quarter. The company said a shrinking market for education smart-device rollouts and a slowdown in broadcasting and telecoms hurt performance.

Industry

Jim Cramer says SpaceX could be a long-term holding for children, a 100-year asset

SpaceX shares fell 13.6 percent after the company’s first earnings report since listing, but CNBC host Jim Cramer said investors should judge the company on decades-long growth potential rather than quarterly results. He compared SpaceX to railroads and called it a potential “100-year” holding. Cramer cited Elon Musk’s fundraising and expansion ability, while warning of near-term selling pressure from the release of about 911 million locked-up shares.