Q3 Preliminary Earnings Announcement
Samsung Electronics posted an operating profit in the 9 trillion won range for the third quarter of this year due to sluggish performance in its core semiconductor business. However, sales recorded a quarterly all-time high.
Samsung Electronics announced on the 8th that its consolidated sales for the third quarter of this year were tentatively estimated at 79 trillion won, with an operating profit of 9.1 trillion won.
Sales increased by 17.2% compared to the same period last year, and operating profit surged by 274.5%. Compared to the previous quarter, the second quarter of last year, sales rose by 6.7%, while operating profit fell by 12.8%.
Samsung Electronics announced preliminary results for the third quarter of this year, with sales of 79 trillion won and an operating profit of 9.1 trillion won. Compared to the second quarter, sales increased by 6.66%, but operating profit decreased by 12.84%. The photo shows Samsung Electronics Seocho Building in Seocho-gu, Seoul, on the 8th. Photo by Jinhyung Kang aymsdream@
The operating profit fell short of market expectations. According to FnGuide, a financial information company, the consensus for Samsung Electronics' third-quarter performance (average forecast by securities firms) was sales of 80.9003 trillion won and operating profit of 10.7717 trillion won.
This is interpreted as an impact of the sluggish performance in the core semiconductor (DS) division. In particular, demand for mobile and PC memory and weakness in legacy memory were significant. The delayed recovery of competitiveness in HBM (High Bandwidth Memory), considered a key memory in the AI (artificial intelligence) era, is also affecting the results.
However, sales marked a record high on a quarterly basis. The previous highest record was 77.78 trillion won in the first quarter of 2022.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
