Samsung Electronics To Report Above-Consensus Q3 Profits Reflecting Hopes On Chip Recovery
Portfolio Pulse from Lekha Gupta
Samsung Electronics reported preliminary Q3 FY23 earnings, with operating profit falling around 78% Y/Y to about 2.4 trillion Korean won. However, the profits surpassed the LSEG SmartEstimate of 2.1 trillion won, indicating early signs of improvement in the memory chip market. The company's Q3 sales were about 67 trillion Korean won. The mobile business is expected to generate an operating profit of around 3 trillion won, similar to last year. Losses in Samsung's memory chip business are projected to shrink to around 3 trillion won as the company focuses on more profitable, higher-end chips.
October 11, 2023 | 12:11 pm
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Samsung's Q3 FY23 earnings surpassed estimates, indicating a potential recovery in the memory chip market. This could positively impact the company's stock in the short term.
Despite a significant drop in operating profit, Samsung's earnings surpassed estimates, which is a positive signal for investors. Additionally, the company's focus on more profitable, higher-end chips and the early signs of recovery in the memory chip market could drive the stock price up in the short term.
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