Samsung’s profit falls 37.8% in the third quarter but shows signs of recovery

by archynewsy
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The South Korean technology giant Samsung Electronics saw its net profit reduced in the third quarter by 37.8% year-on-year to 5.84 trillion won (about 4,082 million euros) due to lower demand for semiconductors, although these have already begun to show signs of recovery.

Compared to the previous quarter, the amount already represents an increase of more than 239%, as reported by the company today.

The company’s gross operating profit (EBITDA) in July-September was 66.77% lower year-on-year, reaching 3.94 trillion won (2,922 million dollars), while operating profit was 2.43 trillion won (1,802 million dollars), 77.6% less than a year ago.

Its sales revenue fell 12.21% compared to the same period in 2022, totaling 67.4 trillion won (US$50,002 million).

These last two figures are in line with what the company included in its results forecast published three weeks ago.

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