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2021-07-28
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UPDATE 2-LG Display's Q2 profit beats estimates as panel prices rise; shares up
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shares up","url":"https://stock-news.laohu8.com/highlight/detail?id=2154494346","media":"Reuters","summary":"* Op. profit 701 bln won vs 599 bln won estimate * Revenue jumps 31% * Shares rise 4% in morning","content":"<html><body><p>* Op. profit 701 bln won vs 599 bln won estimate</p><p> * Revenue jumps 31%</p><p> * Shares rise 4% in morning trade</p><p> (Adds bullets, shares, panel outlook)</p><p> By Heekyong Yang and Joyce Lee</p><p> SEOUL, July 28 (Reuters) - South Korea's LG Display Co Ltd</p><p> on Wednesday posted a better-than-expected second-quarter profit as pandemic-led demand for TVs and laptops drove up panel prices, pushing its shares up as much as 4% in morning trade. </p><p> The display maker that supplies Apple Inc reported an operating profit of 701 billion won ($607 million) in the April-June quarter, compared with an operating loss of 517 billion won in the same period last year. </p><p> The profit, the company's fourth consecutive quarterly profit, beat an average analyst forecast of 599 billion won from Refinitiv SmartEstimate, which gives more weight to consistently accurate analysts. </p><p> Revenue rose 31% on-year to 7 trillion won, LG Display said in a regulatory filing.</p><p> Prices of LG Display's mainstay 55-inch liquid crystal display <a href=\"https://laohu8.com/S/LCD.AU\">$(LCD.AU)$</a> panels for TV sets more than doubled in the April-June quarter from the same period a year earlier, according to market data from TrendForce's WitsView. </p><p> Still, panel prices are slated to fall in the latter half of the year, as Chinese panel makers ramp up production on the back of a slight easing in the shortage of semiconductor parts, especially display driver integrated circuits <a href=\"https://laohu8.com/S/DDI\">$(DDI)$</a>, analysts said.</p><p> As well, vaccinated people around the world are venturing outdoors and watching less TV, prompting TV makers to take a conservative view on demand and lower panel procurement levels, analysts said.</p><p> Streaming giant Netflix Inc reported earlier this month that it was losing subscribers as governments lifted pandemic restrictions that had kept people at home last year.</p><p> Apple on Tuesday said a global chip shortage that has bit into its ability to sell Macs and iPads will start to affect iPhone production and forecast slowing revenue growth.</p><p> LG Display's stock has risen more than a fifth so far this year, versus a 12.5% rise in the broader market .</p><p> ($1 = 1,154.2800 won)</p><p> (Reporting by Heekyong Yang and Joyce Lee; Editing by Richard Pullin)</p><p>((Heekyong.Yang@thomsonreuters.com;))</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>UPDATE 2-LG Display's Q2 profit beats estimates as panel prices rise; shares up</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nUPDATE 2-LG Display's Q2 profit beats estimates as panel prices rise; shares up\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2021-07-28 09:18</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><body><p>* Op. profit 701 bln won vs 599 bln won estimate</p><p> * Revenue jumps 31%</p><p> * Shares rise 4% in morning trade</p><p> (Adds bullets, shares, panel outlook)</p><p> By Heekyong Yang and Joyce Lee</p><p> SEOUL, July 28 (Reuters) - South Korea's LG Display Co Ltd</p><p> on Wednesday posted a better-than-expected second-quarter profit as pandemic-led demand for TVs and laptops drove up panel prices, pushing its shares up as much as 4% in morning trade. </p><p> The display maker that supplies Apple Inc reported an operating profit of 701 billion won ($607 million) in the April-June quarter, compared with an operating loss of 517 billion won in the same period last year. </p><p> The profit, the company's fourth consecutive quarterly profit, beat an average analyst forecast of 599 billion won from Refinitiv SmartEstimate, which gives more weight to consistently accurate analysts. </p><p> Revenue rose 31% on-year to 7 trillion won, LG Display said in a regulatory filing.</p><p> Prices of LG Display's mainstay 55-inch liquid crystal display <a href=\"https://laohu8.com/S/LCD.AU\">$(LCD.AU)$</a> panels for TV sets more than doubled in the April-June quarter from the same period a year earlier, according to market data from TrendForce's WitsView. </p><p> Still, panel prices are slated to fall in the latter half of the year, as Chinese panel makers ramp up production on the back of a slight easing in the shortage of semiconductor parts, especially display driver integrated circuits <a href=\"https://laohu8.com/S/DDI\">$(DDI)$</a>, analysts said.</p><p> As well, vaccinated people around the world are venturing outdoors and watching less TV, prompting TV makers to take a conservative view on demand and lower panel procurement levels, analysts said.</p><p> Streaming giant Netflix Inc reported earlier this month that it was losing subscribers as governments lifted pandemic restrictions that had kept people at home last year.</p><p> Apple on Tuesday said a global chip shortage that has bit into its ability to sell Macs and iPads will start to affect iPhone production and forecast slowing revenue growth.</p><p> LG Display's stock has risen more than a fifth so far this year, versus a 12.5% rise in the broader market .</p><p> ($1 = 1,154.2800 won)</p><p> (Reporting by Heekyong Yang and Joyce Lee; Editing by Richard Pullin)</p><p>((Heekyong.Yang@thomsonreuters.com;))</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"QTWO":"Q2 Holdings Inc","AAPL":"苹果","LPL":"LG Display Co ADS"},"source_url":"http://api.rkd.refinitiv.com/api/News/News.svc/REST/News_1/RetrieveStoryML_1","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2154494346","content_text":"* Op. profit 701 bln won vs 599 bln won estimate * Revenue jumps 31% * Shares rise 4% in morning trade (Adds bullets, shares, panel outlook) By Heekyong Yang and Joyce Lee SEOUL, July 28 (Reuters) - South Korea's LG Display Co Ltd on Wednesday posted a better-than-expected second-quarter profit as pandemic-led demand for TVs and laptops drove up panel prices, pushing its shares up as much as 4% in morning trade. The display maker that supplies Apple Inc reported an operating profit of 701 billion won ($607 million) in the April-June quarter, compared with an operating loss of 517 billion won in the same period last year. The profit, the company's fourth consecutive quarterly profit, beat an average analyst forecast of 599 billion won from Refinitiv SmartEstimate, which gives more weight to consistently accurate analysts. Revenue rose 31% on-year to 7 trillion won, LG Display said in a regulatory filing. Prices of LG Display's mainstay 55-inch liquid crystal display $(LCD.AU)$ panels for TV sets more than doubled in the April-June quarter from the same period a year earlier, according to market data from TrendForce's WitsView. Still, panel prices are slated to fall in the latter half of the year, as Chinese panel makers ramp up production on the back of a slight easing in the shortage of semiconductor parts, especially display driver integrated circuits $(DDI)$, analysts said. As well, vaccinated people around the world are venturing outdoors and watching less TV, prompting TV makers to take a conservative view on demand and lower panel procurement levels, analysts said. Streaming giant Netflix Inc reported earlier this month that it was losing subscribers as governments lifted pandemic restrictions that had kept people at home last year. Apple on Tuesday said a global chip shortage that has bit into its ability to sell Macs and iPads will start to affect iPhone production and forecast slowing revenue growth. LG Display's stock has risen more than a fifth so far this year, versus a 12.5% rise in the broader market . 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