It fell by 78%
As expected, Samsung Electronics today, October 11, reported its results for the third quarter of this year.
The world’s largest maker of memory chips, smartphones, and TVs confirmed operating profit was $1.79 billion, down 78% from a year earlier. By comparison, operating income in the third quarter of last year was $8 billion. But that was slightly more than the $1.56 billion that analysts had expected.
Samsung admits multiple drops in profits
Samsung Electronics had sales of $50 billion in the same period, down 13% over the past year.
The company did not provide detailed divisional data, but analysts previously said that Samsung’s chip division, traditionally Samsung’s biggest source of revenue, was unprofitable last quarter, while Samsung’s mobile business led the way.
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