Samsung Warns Its Profit Fell 56%

StockMarketNews.Today — The South Korean technology giant said Tuesday that it expects to make an operating profit of roughly 7.7 trillion Korean won ($6.5 billion) for the quarter that ended in September, down from 17.57 trillion Korean won ($14.7 billion) for the same period a year ago. But that forecast beat the 7.1 trillion won that analysts expected, according to Refinitiv.


⇓⇑ Stock Market Simulator ⇓⇑


It said it expects sales to fall 5% to 62 trillion won ($52 billion). Shares in Samsung rose about 1% in Seoul during morning trading.



Samsung’s profits have taken a beating over the past year, largely because of a slump in its memory chip business. But SK Kim, an analyst at the brokerage firm Daiwa Capital Markets, said last month that he expects a boost in Samsung’s memory chip demand thanks to its advances in extreme ultraviolet lithography, a key breakthrough in chip manufacturing.

Samsung will report earnings at the end of this month.


Samsung-N



Top Dividend Stocks

Are you tired of trawling list after list of dividend stocks to find ones that’ll maximize your profit?… Well your search is over. Become a member of SMN.Today and you’ll get updated lists of the top one hundred dividend stocks. The stocks are drawn from a diverse range of payoffs, so you can best customize your portfolio for your needs. Trust the experts, become a member of SMN.Today, and watch your bank account grow! — One Time Payment! —

$19.99



TODAY ›
NEWS ›
STOCK MARKETS ›
BUSINESS ›
ECONOMIC INDICATORS ›
COMMODITIES ›
INSIGHTS ›


Support SMN.Today

… If You're Able To, Please Support SMN.Today From As Little As $5. Thank You …

$5.00



 



Categories: Business

Tags: , , , , , ,

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.

%d bloggers like this: