LG Display reports 60 pct tumble in Q2 earnings

SEOUL, July 16 (Yonhap) -- LG Display Co., the world's No. 2 maker of liquid
crystal displays (LCDs), said Thursday that its second-quarter earnings fell more
than 60 percent on-year amid a global economic slowdown.
LG Display earned 302 billion won (US$240 million) in the April-June period, down
60.2 percent from 759 billion won a year earlier, the company said in a
regulatory filing. The bottom line, however, marked a turnaround from a loss of
255 billion won the previous quarter.
Sales rose 16.1 percent on-year to a quarterly high of 4.89 trillion won, but
operating profit plunged 75.5 percent to 218 billion, the company said.
LG Display shares closed up 0.87 percent at 34,800 won on the Seoul bourse. The
results were announced after the close of the stock market.
ygkim@yna.co.kr
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