SEOUL (Reuters) – South Korea’s LG Display Co Ltd <034220.KS> reported a third-quarter operating loss on Wednesday, missing analyst estimates, following a drop in liquid crystal display (LCD) panel prices.
The Apple Inc <AAPL.O> supplier posted a loss of 437 billion won ($372.84 million) for July-September, versus a profit of from 140 billion won in the same period a year earlier.
The result – the third consecutive on-quarter loss – compared with analysts’ forecast for a loss of 322 billion won, according to Refinitiv SmartEstimate based on the estimates of 22 analysts.
Revenue fell 5% to 5.8 trillion won, LG Display said in a stock exchange filing.
($1 = 1,172.0800 won)
(Reporting by Heekyong Yang, Ju-min Park and Hyunjoo Jin; Editing by Christopher Cushing and Himani Sarkar)