LG Display posts sharp Q3 profit rise as won strengthens against dollar

LG Display Co. announced that its net income for the July-September quarter reached 755.6 billion won, a substantial rise compared with the previous year. Operating profit for the period was 250.6 billion won, down 42% from a year earlier, and revenue declined 9.8% to 6.27 trillion won. Despite the lower operating profit, the firm reversed a loss of 107.7 billion won recorded in the prior quarter, posting a profit thanks to favorable foreign-currency translation gains as the won appreciated against the U.S. dollar.

CFO Kim Sung-hyun said the company focused on strengthening competitiveness and improving operational efficiency amid ongoing market uncertainty. The operating profit exceeded the average forecast from a Yonhap Infomax survey by 40.9%, though no net-profit estimate was provided.