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South Korea's LG Display posts third-quarter operating loss, misses analyst estimates

South Korea's LG Display posts third-quarter operating loss, misses analyst estimates
FILE PHOTO: An employee of LG Display walks at the company's main office building in Seoul, August 29, 2011. REUTERS/Truth Leem/File Photo -
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Truth Leem(Reuters)
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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)

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