Samsung Electronics reported financial results for the first quarter of 2023. The Company posted KRW 63 trillion in consolidated revenue and KRW 0.6 trillion in operating profit.
The above estimates are based on K-IFRS. Please note that Korean disclosure regulations do not allow earnings estimates to be offered as a range. To comply with such regulations, the above figures represent the median of the estimate ranges provided below.
Sales: 62 ~ 64 trillion Korean won.
Operating Profit: 0.5 ~ 0.7 trillion Korean won.
It is the first time in 14 years since the first quarter of 2009 that Samsung Electronics’ operating profit has fallen below 1 trillion won. In this regard, Samsung Electronics said, “Memory performance declined significantly compared to the previous quarter due to a decrease in demand due to the macro situation and slowdown in customer purchasing sentiment.” he explained.
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