Samsung has announced its Q3 2022 financial results, the company has a revenue of KRW 76.78 trillion and an operating profit of KRW 10.85.
Samsung has said that its operating profit had declined by 23% for the previous quarter, this is not expected to affect its annual revenue.
Total consolidated revenue was a record for the third-quarter at KRW 76.78 trillion despite a challenging business environment, while operating profit declined 23% from the previous quarter to KRW 10.85 trillion. With record revenue in each of the respective quarters so far this year, the Company expects annual revenue to surpass the historical high set in 2021.
Earnings in the Memory Business declined as inventory adjustments of customers exceeded market expectations and demand for consumer products remained weak. The System LSI Business saw lower profits due to weak demand for mobile phones and TVs, while the Foundry Business posted a record quarterly revenue on improving yields in advanced nodes.
SDC (Samsung Display Corporation) saw record revenue for the mobile panel business as demand increased following the release of new flagship smartphones, including foldables, while the large panel business continued to post losses amid weak TV and monitor markets.
You can find out more details about the Samsung Q3 2022 financial results over at Samsung’s website at the link below.
Image Credit: Kote Puerto
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