Samsung Electronics Co Ltd reported Q2 2023 earnings on July 07, 2023. The world’s largest memory chip and smartphone maker estimated its operating profit fell to 60 trillion Korean won from April to June, from 14.1 trillion won a year earlier in a short preliminary earnings statement.
It is a likely 96% plunge in second-quarter operating profit. The reason behind the earning drop is revealed from the poor performance in the semiconductor division.
- Consolidated Sales: Approximately 60 trillion Korean won
- Consolidated Operating Profit: Approximately 0.6 trillion Korean won
It would be Samsung’s lowest profit for any quarter since a 590 billion won profit in the first quarter of 2009, according to company data.