LG Display’s second-quarter profit falls short of estimates

LG Display, the world’s second-largest maker of flat panels, posted second-quarter profit that missed analyst estimates on slower consumer demand for screens used in personal computers and televisions.

Net income, excluding minority interest, was 105.7 billion won ($94 million) in the three months ended June, compared with a 111.2 billion-won loss a year earlier, the company said in a statement yesterday. The result compares with the 205.9 billion-won profit average of 13 analyst estimates compiled by Bloomberg.

LG Display has struggled to boost profit as consumers put off purchases of high-margin mobile devices and TVs amid slow growth in the global economy. Shipments may rise at a “low to mid single digit” growth rate in the third quarter with prices to stabilize about the middle of the period after a short-term decline, Chief Financial Officer James Jeong said.