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LG Display says first-quarter profit down 95 percent versus year earlier

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Reuters SEOUL

SEOUL (Reuters) - South Korea's LG Display Co Ltd <034220.KS> said on Wednesday its first-quarter operating profit fell 95 percent from a year earlier, its weakest result in four years as sluggish global demand for consumer electronics hit display panel prices.

LG Display said its first-quarter operating profit was 39.5 billion won ($34.43 million), which compares with a Thomson Reuters StarMine SmartEstimate of a 78 billion won loss derived from a survey of 26 analysts. This was also the weakest since a 211 billion won operating loss in the first quarter of 2012.

Revenue for the period fell 15 percent from a year earlier to 6 trillion won.

 

(Reporting by Se Young Lee; Editing by Stephen Coates)

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First Published: Apr 27 2016 | 5:59 AM IST

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