LGD Achieves Record 2Q Sales... Operating Profit Surpasses 700 Billion Won, Turning to Black (Update)

[Asia Economy Reporter Suyeon Woo] LG Display recorded quarterly sales of 6.9655 trillion KRW in the second quarter of this year, achieving the highest sales ever for the second quarter. Operating profit also surpassed 700 billion KRW, successfully turning to a profit compared to the previous year, demonstrating an earnings surprise.

On the 28th, LG Display announced that its sales for the second quarter of this year increased by 31.3% compared to the same period last year, reaching 6.9655 trillion KRW. Quarterly operating profit turned positive to 701 billion KRW compared to the previous year.

Compared to the securities firms' consensus (sales of 7.0275 trillion KRW, operating profit of 591.8 billion KRW), the sales figure is slightly lower, but the operating profit greatly exceeded expectations. LG Display's operating profit exceeding 700 billion KRW is the first time in four years since the second quarter of 2017, and the operating profit margin also recovered to double digits at 10% for the first time in four years.

LG Display explained that the strong performance this quarter was due to the robust OLED-centered TV panel business and steady demand for display panels for IT devices. As a result, LG Display's cumulative sales for the first half of this year increased by 38% year-on-year to 13.848 trillion KRW, and operating profit turned positive to 1.224 trillion KRW.

This content was produced with the assistance of AI translation services.