Friday, December 1, 2023

Samsung Posts Huge $49.99 Billion Revenue in 3 Months

Samsung released its Q3 earnings report, revealing quarterly revenue of KRW 67.40 trillion ($49.99 billion) and an operating profit of KRW 2.43 trillion ($1.80 billion).

The revenue figures show a gradual decline of 12.3% compared to the previous year but a 12% increase from Q2 values. Operating profit is up by over 262% compared to Q2 figures.

Samsung’s mobile division reported robust sales for its flagship models and a healthy demand for mobile displays. Additionally, Samsung’s memory business reduced losses due to increased demand for its products and higher average selling prices.

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