LG Display : 2Q Net Loss Narrowed But Still Worse Than Expected

By Kwanwoo Jun

LG Display Co.'s second-quarter net loss narrowed from a year earlier but was still worse than expectations.

Net loss for the quarter ended June 30 was 503.83 billion Korean won ($420.8 million) compared with a KRW550.18 billion net loss in the same quarter a year earlier, the South Korean company said Thursday. The result was below a FactSet consensus forecast for net loss of KRW345.11 billion.

Revenue fell 1.0% compared with the same period a year earlier to KRW5.307 trillion.

Its operating loss widened to KRW517.02 billion, from a loss of KRW368.74 billion a year earlier, due to increased costs for restructuring its LCD business which it wants to replace with an OLED business.

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