Tesla, Inc.'s (NASDAQ:TSLA) battery supplier LG Energy Solution (LGES) reported strong quarterly results amid an inclement economic and geopolitical environment. The better-than-expected results in its maiden report as a public company were helped by strong battery sales to Tesla.
What Happened: LGES, a spin-off unit from South Korea's LG Chem, said its quarterly operating profit came in at 258.9 billion Korean Won ($200 million), down about 24% year-over-year. The decline was much smaller than what many analysts had anticipated.
