LG Display posts sixth straight quarterly loss By Reuters
© Reuters. People visit the LG display at the international consumer technology fair IFA in Berlin, Germany September 2, 2022. REUTERS/Lisi Niesner
SEOUL (Reuters) – South Korean flatscreen maker LG Display (NYSE:) posted on Wednesday its sixth consecutive quarterly loss, hit by continued weakness in premium TV demand.
The Apple (NASDAQ:) supplier posted an operating loss of 662 billion won ($491.11 million) for the July-September quarter versus a loss of 759 billion won a year earlier.
The result was slightly worse than a forecast loss of 610 billion won from 15 analysts polled by LSEG SmartEstimate, weighted toward analysts who are more consistently accurate.
But the figure narrowed losses from the second quarter’s 881 billion won.
Revenue fell 29% from a year earlier, to 4.8 trillion won.