[ad_1]
SEOUL (Reuters) – Samsung Electronics (OTC:) Co Ltd reported a likely 32% drop in quarterly operating earnings on Friday as demand for electronic devices, and the memory chips that power them, shrank due to an economic downturn.
The world’s largest memory-chip and smartphone maker estimated its profit fell to 10.8 trillion won ($7.67 billion) in July-September – its first year-on-year decline in nearly three years – from 15.8 trillion won a year earlier.
The profit fell short of an 11.8 trillion won SmartEstimate from Refinitiv.
Revenue likely rose 3% from the same period a year earlier to 76 trillion won, Samsung (KS:) said in a short preliminary earnings release.
Samsung is due to release detailed earnings on October 27.
($1 = 1,407.6400 won)
[ad_2]
Source link
The performance of your business depends on many factors, but none of them are as…
Advancing your career often requires going above and beyond your current job duties. Whether you…
The age-old card game solitaire, which has enthralled players for decades, is more than simply…
In an era where work demands constantly increase, mastering the art of time management has…
Dealing with international transactions can be cumbersome with traditional banks due to high fees and…
Teaching children about the importance of saving money is a valuable life lesson that can…