Earnings call transcript: IHG Hotels & Resorts posts strong Q3 2026 growth

LG Display Co., the display manufacturing affiliate of South Korean electronics giant LG Electronics Inc., reported a surge in net profit for the third quarter on Thursday. The company's net income for the July-September period reached 755.6 billion won (US$571.1 million), a remarkable 60,496.2 percent increase from the previous year.

This strong financial performance was largely driven by a favorable exchange rate, as a stronger South Korean won against the U.S. dollar significantly boosted foreign currency translation gains.

Despite the impressive quarterly profit, LG Display's operating profit for the period saw a decline of 42 percent, dropping to 250.6 billion won from 431 billion won a year earlier. Revenue for the quarter also experienced a 9.8 percent decrease on a year-over-year basis, amounting to 6.27 trillion won. However, compared to the previous quarter, the company managed to transition from an operating loss of 107.7 billion won to a profit, marking a notable improvement.

In an effort to maintain its competitive edge amidst ongoing uncertainty in the external business environment, including fluctuations in exchange rates and component prices, LG Display focused on strengthening its business competitiveness and improving operational efficiency during the third quarter. Kim Sung-hyun, the company's chief financial officer, commented on these developments, emphasizing the company's efforts to adapt to the current market conditions.

The operating profit for the quarter exceeded the average estimate in a survey conducted by Yonhap Infomax, the financial data firm of Yonhap News Agency, although an estimate for net profit was not available in the regulatory filing.