LG Display Q2 Operating Loss Narrows, Turns To Profit In H1; Stock Gains

LG Display Co., Ltd. (LPL,034220.KS), a South Korean electronics company, reported Wednesday narrower operating loss in its second quarter amid nearly flat sales. In the first half, the company reported an operating profit, compared to loss last year, despite weak sales.

In South Korea, the shares were gaining around 5.03 percent, trading at 10,240.00 won.

In the overnight trading on the NYSE, the shares were gaining around 1.53 percent, at $3.3100, extending the 2.2% hike on Tuesday's regular trading close.

In the second quarter, operating loss was 107.728 billion Korean won, compared to last year's loss of 116.03 billion won.

Net loss attributable to shareholders of parent company narrowed to 404.641 billion won from loss of 865.812 billion won a year ago.

Net loss from continuing operation before income tax was 459.14 billion won, while last year's loss was 991.898 billion won.

Sales for the period edged up to 5.612 trillion won from prior year's 5.587 trillion won.

In the first half, the company recorded an operating profit of 38.991 billion won, compared to loss of 82.569 billion won last year. Sales for the period dropped 4% year-over-year to 11.146 trillion won.

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