Thursday, December 7, 2023
HomeReviewsSamsung's fourth-quarter earnings report warns of plummeting profits

Samsung's fourth-quarter earnings report warns of plummeting profits

Samsung Electronics released its earnings guidance for the fourth quarter 2022, and the preliminary numbers don’t look good. Samsung reported an estimated consolidated operating profit of 4.3 trillion won in October (3.38 billion) – December quarter. The graph represents a decrease of 38% compared to the Q4 2014 value. The fourth-quarter profit is expected to be Samsung’s lowest profit since the third quarter 2014.

Samsung Q4 earnings guidance reports record low profits

Quarterly revenue forecast down 9% to KRW 800 million billion ($800 billion). Falling demand for smartphones and memory chips in particular was the main reason for Samsung’s negative financial results. Analysts are forecasting lower profits for the upcoming first quarter 2022 due to the same factors that led to the decline in this quarter.




Please enter your comment!
Please enter your name here


Featured NEWS