LG Display posts 4th straight quarterly loss on weak gadget demand (updated)

LG DISPLAY

26/04/2023 05:52

(Adds revenue, share move)
       SEOUL, April 26 (Reuters) - South Korean display panel
maker LG Display  034220.KS  on Wednesday posted its fourth
straight quarterly loss, trailing estimates, as global demand
for devices like computers and monitors remained depressed amid
an uncertain economic climate. 
    LG Display, an Apple Inc  AAPL.O  supplier, posted a 1.1
trillion won ($822.59 million) operating loss for the
January-March quarter, versus a profit of 38 billion won a year
earlier. 
    The result missed a forecast of a 660 billion won loss from
18 analysts polled by Refinitiv SmartEstimate, weighted toward
analysts that are more consistently accurate. 
    Revenue slumped 32% to 4.4 trillion won, LG Display said. 
    Shares in LG Display widened losses, falling 4% after the
results announcement, versus a 0.2% drop in the wider market
 .KS11 . 
        
  
 ($1 = 1,337.2400 won)

 (Reporting by Joyce Lee and Heekyong Yang; Editing by Himani
Sarkar and Kenneth Maxwell)
 ((joyce.lee@tr.com;))