Samsung Electronics Q3 Operating Profit Recovers to Trillion-Won Level (Update)
Samsung Electronics has recovered its operating profit in the 'trillion won' range for the third quarter (July to September) of this year.
On the 11th, Samsung Electronics announced its preliminary consolidated results for the third quarter of 2023, with sales of 67 trillion won and an operating profit of 2.4 trillion won. Compared to the second quarter of this year, sales and operating profit increased by 11.65% and 258.21%, respectively. Compared to the third quarter of last year, sales decreased by 12.74% and operating profit decreased by 77.88%.
Samsung Electronics had to be satisfied with an operating profit in the 600 billion won range in the first and second quarters of this year due to the semiconductor market downturn, but it recovered its 'trillion won' operating profit in the third quarter. The preliminary results announced on this day also exceeded market expectations, which had anticipated an operating profit of around 2.19 trillion won. Previously, the consensus for Samsung Electronics' third-quarter operating profit provided by the financial information provider FnGuide (the average of securities firms' forecasts) was sales of 68.0287 trillion won and an operating profit of 2.1927 trillion won.
The Mobile Experience (MX) division, which saw strong sales of new smartphones such as the Galaxy Z Flip5, and the Display (SDC) division, which benefited from new products from client companies, are estimated to have driven the improvement in performance. The Semiconductor (DS) division, which recorded operating losses exceeding 4 trillion won in the first and second quarters of this year, also appears to have contributed to the performance improvement by reducing its deficit.
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The preliminary results announced on this day were estimated based on the Korean International Financial Reporting Standards (IFRS). Detailed performance by business division is scheduled to be announced at the end of this month.
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