Samsung Electronics has released its earnings guidance report for the fourth quarter of 2022, but the preliminary numbers don’t look good.Samsung reported estimated consolidated operating profit 4.3 trillion won ($3.38 billion) is the October-December quarter. The chart represents a 69% drop compared to Q4 2021 values. Estimated profit for the fourth quarter will be Samsung’s lowest since the third quarter of 2014.
Quarterly revenue estimates decreased by 9%, 70 trillion won ($55 billion). Declining demand for his chips, especially smartphones and memory, is the main factor behind Samsung’s negative performance. Analysts expect lower earnings in the first quarter of 2023 due to the same factors that caused this quarter’s slump.
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