SEOUL: LG Display Co. announced on Wednesday a third-quarter net loss of 338.1 billion won (US$244.8 million), maintaining its position in the red compared to the same period last year. The company’s financial struggles persist despite a notable increase in sales.
According to Yonhap News Agency, LG Display’s regulatory filing indicates an operating loss of 80.6 billion won for the July-September period. This marks an improvement from the 662.1 billion won loss reported a year earlier, yet the company continues to face financial challenges. Sales, however, rose significantly by 42.5 percent, reaching 6.82 trillion won.
The reported operating loss was 7.1 percent lower than average analyst estimates, as per a survey by Yonhap Infomax, the financial data arm of Yonhap News Agency. This suggests that while the company is still struggling, its financial performance is slightly better than anticipated.