LG Display Posts Second Consecutive Quarterly Losses

MT Newswires Live07-22

LG Display (KRX:034220) logged a net loss of 419 billion won for the second quarter compared with a net profit of 891 billion won a year earlier and a net loss of 576 billion won the previous quarter.

The display manufacturer's loss per share stood at 5,396 won from a profit per share of 2,162 won a year ago, according to a statement on Wednesday.

Revenue rose 0.5% to 5.612 trillion won for the three months ended June 30 from 5.587 trillion won in the prior-year quarter.

For the first-half, cumulative operating profit stood at 39 billion won while revenues were 11.15 trillion won, compared with an operating loss of 82.6 billion won and revenues of 11.65 trillion won a year ago.

LG Display plans to continue enhancing its premium product portfolio, including gaming OLED monitors, while maintaining flexible responses to seasonal market shifts.

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