July 07, 2023
Samsung Electronics estimates 96% drop in Q2 profit
SEOUL (Reuters) -- Samsung Electronics reported a likely 96% plunge in second-quarter operating profit on Friday, largely in line with forecasts, as an ongoing chip glut drives large losses in the tech giant's key business despite a supply cut.
The world's largest memory chip and smartphone maker estimated its operating profit fell to 600 billion won ($458 million) in the April-June quarter, from 14.1 trillion won a year earlier, in a short preliminary earnings statement.
The world's largest memory chip and smartphone maker estimated its operating profit fell to 600 billion won ($458 million) in the April-June quarter, from 14.1 trillion won a year earlier, in a short preliminary earnings statement.
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サムスン・クライシス 内部から見た武器と弱点【電子書籍】[ 張相秀 ]
The profit was largely in line with a forecast of 555 billion won that was weighted toward forecasts from analysts who are more consistently accurate.
Revenue likely fell 22% from the same period a year earlier to 60 trillion won, Samsung said in the statement. The tech giant is due to release detailed earnings later this month.
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