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Samsung profit significantly falls in third quarter

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Samsung profit significantly falls in third quarter
November 01
09:00 2019

The South Korean high-tech giant has released its quarterly report. The figures are not optimistic… For the III quarter, the company’s profit has fallen more than half – to 6.3 trillion won. Disappointing sales of memory chips caused such a drop. Over the same period last year, the profit amounted to 13.1 trillion won.

Revenue has fallen 5% – to 62 trillion won. The semiconductor division has worsened its statistics on this indicator to 17.6 trillion won. In 2018, the revenue was 30% higher. The division’s operating profit has fallen greatly – by 80% to 3 trillion won.

The total revenue of the display business has fallen 8% – to 9.2 trillion won. Operating profit on the contrary has grown almost 6.5% – to 1.2 trillion here.

The company’s IT department has managed to increase the revenue by 17% (29.2 trillion won). The profit has risen nearly 3 trillion won. This is almost a third of the same indicators of the previous period.

The consumer TV and consumer electronics business has increased the revenue by 11 trillion won. The profit has grown 0.5 trillion won.

Samsung’s stock price remained unchanged during the session on Thursday. By the way, despite the disappointing quarterly reports, for the current year the value of the company has risen more than 30%. Now it amounts to 347 trillion won.

 

The material was prepared with the participation of Katya Wilson,
a leading analyst of the brokerage company UFT Group

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