Samsung has announced its financial results for the third quarter of 2022. The company’s revenue is 76.78 trillion won and operating profit is 10.85 won.
Samsung said its operating profit fell 23% last quarter, but this is not expected to affect its full-year earnings.
Despite the difficult business environment, consolidated total revenue for the third quarter reached a record high of KRW 76.78 trillion and operating profit decreased 23% from the previous quarter to KRW 10.85 trillion. The company has posted record earnings in each quarter so far this year and expects full-year earnings to surpass the all-time high set for 2021.
Memory business revenues declined as customer destocking exceeded market expectations and demand for consumer products remained weak. The system LSI business saw a decline in profits due to sluggish demand for mobile phones and TVs, while the foundry business posted record-high quarterly sales due to improved yields of cutting-edge nodes.
SDC (Samsung Display Corporation) posted record earnings in its mobile panel business as demand increased following the release of new flagship smartphones, including foldables, while the large panel business remained buoyant as TV and monitor markets continued to grow. Losses continued to be recorded during the slump.
More information on Samsung’s third quarter 2022 earnings results can be found on Samsung’s website at the link below.
Image credit: Cote Puerto
Filed Under: Technology News
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