LG CNS Q3 revenue rises 9.3% as AI and cloud sales reach 961.5 billion won
Operating profit at the Korean IT services company grew 15.0% year on year to 138.2 billion won, with digital business services up 21.3%.
LG CNS reported third-quarter revenue of 1.6643 trillion won and operating profit of 138.2 billion won, with revenue up 9.3% and operating profit up 15.0% year on year, according to datanet.co.kr.
AI and cloud revenue reached 961.5 billion won, a 9.3% increase from a year earlier. Digital business services revenue rose 21.3% to 408.2 billion won, which the company attributed to next-generation financial system projects. Smart engineering revenue came in at 294.5 billion won, slightly below the prior year.
The company said it acquired roughly 380 billion won in tangible assets to secure GPUs for AI factories, and that it began joint investment in enterprise software and AI with General Atlantic.
Earlier AI infrastructure push
In recent months LG CNS has showcased AI HAUS, its prefabricated modular data center, and GPUaaS built on NVIDIA's Vera Rubin platform at a global data center event in Singapore. It has also secured next-generation financial system projects from NH Nonghyup Bank, Mirae Asset Life Insurance and KB Kookmin Bank, and won a project to modernize Saemaul Geumgo's core banking system.
The company was named in IDC MarketScape Worldwide reports for digital workplace services and data center management software, and became the first Korean company to reach Preferred tier in Anthropic's Claude Partner Network.
Quick answers
What were LG CNS's third-quarter revenue and operating profit?
Revenue was 1.6643 trillion won and operating profit 138.2 billion won, up 9.3% and 15.0% year on year respectively.
How much did LG CNS's AI and cloud business earn?
AI and cloud revenue reached 961.5 billion won, a 9.3% increase from the same quarter a year earlier.
Why did LG CNS buy tangible assets?
The company acquired roughly 380 billion won in tangible assets to secure GPUs for AI factories.