Daily Management Review

Samsung expects drop in profits by 29% in the IV quarter


01/09/2019


South Korean Samsung Electronics Co., the world's largest manufacturer of smartphones and semiconductors, predicts a drop in operating profit in the fourth quarter by 28.7%, to approximately 10.8 trillion won ($ 9.67 billion) compared to 15.15 trillion won for the same period a year earlier.



Jami3.org
Jami3.org
Analysts on average estimated the company's profit at 13.2 trillion won, according to CNBC. Thus, the forecast of Samsung itself is more than 18% worse than experts' expectations.

In addition, the results will be lower than in the two previous quarters: in April-June, the company's operating profit amounted to 14.87 trillion won, in July-September – to 17.57 trillion won.

Samsung estimates revenue in the fourth quarter in the region of 59 trillion won, which is 10.6% lower than the figure for the same period in 2017.

Analysts polled by S&P Global Market Intelligence, on average, suggest that Samsung will receive an operating profit of 13.8 trillion won in the last quarter with revenue of 63.5 trillion won.

The estimated deterioration in financial performance is taking place “amid growing macroeconomic uncertainty,” Samsung said. The company also notes "weak demand" for memory chips and "increased competition" in the field of mobile phones.

Samsung will publish final quarterly reports later this month.

Samsung stock price on the basis of trading in Seoul on Tuesday fell by 1.7%. Over the past 12 months, the company's capitalization has decreased by more than 25%.

source: cnbc.com






Science & Technology

Financial giants and US government turn to quantum computers

Long Way To Go For Coronavirus Vaccine, Say Drgumakers

Google's subsidiary launches recognition service for photoshopped images

Unapproved Drug For Coronavirus Treatment And Testing Given By Gilead Sciences

Live Facial Recognition Cameras Will Be Used By London Police

Driverless Vehicle For Its Ride-Sharing Service Unveiled By GM’s Cruise

Amazon will allow customers to pay with palms instead of cards

Complete Computer System For Self Driving Cars Launched By Qualcomm

In A Lifetime We Could Accumulate 20Kg Micro-Plastic In Our Body

Creator Of The First 'Gene-Edited' Babies Of The World Gets 3 Year Jail Term In China

World Politics

World & Politics

Germany pledges to fight right-wing extremism after Hanau shooting

Ex-head of Mexican Pemex will be transferred to Madrid prison

China Releases First Detailed Study Of Coronaviurs Attack, Finds Elderly At Most Risk

EBA Finds Alarming Compliance Results For Gender Diversity Among Banks

Record high temperature observed in Antarctica

Venezuela to initiate international litigation against USA because of sanctions

Coronavirus Death Toll 204 In China, US Asks Americans Not To Go China

Hong Kong protesters block railway to mainland