[Featured Stock] LG Innotek Falls Over 8% Amid Q3 Earnings Shock

LG Innotek is showing a significant decline due to weak performance in the third quarter of this year.

As of 9:30 a.m. on the 24th, LG Innotek is trading at 182,700 KRW, down 17,000 KRW (8.51%) from the previous day.

On the previous day, LG Innotek announced that its operating profit for the third quarter was 130.4 billion KRW, a 28.9% decrease compared to the same period last year. During the same period, sales increased by 19.3% to 5.6851 trillion KRW. Hyunji Cho, a researcher at DB Financial Investment, analyzed, "Sales exceeded the consensus (average securities firm forecast) by 10%, but operating profit fell significantly short of the consensus of 257.7 billion KRW," adding that the previously anticipated intensified competition among clients and the impact of a weak exchange rate were stronger than expected."