Samsung Electronics has officially released the earnings guidance for the third quarter of 2022 on its official website.
Q3 2022: Samsung’s profit fell 31.7% year-on-year
- Consolidated Sales: Approximately 76 trillion Korean won
- Consolidated Operating Profit: Approximately 10.8 trillion Korean won
The milestone is down 31.7% from the same period last year, this is the first time Samsung’s profit goes down the year-on-year decline in nearly three years. Samsung’s stock has fallen about 30% this year. By comparison, the Philadelphia Semiconductor Index fell 37%.
Meanwhile, it is reported that Samsung’s mobile business may also see a profit slump of around 17% to 2.8 trillion won. So stay tuned with SamNews 24 for more Samsung updates.
