Samsung Electronics on Tuesday projected a 56% drop in second-quarter operating profit from a year earlier, far worse than analysts expected as its struggling chip business faced U.S. chip curbs on ...

(RTTNews) - Samsung Electronics Co Ltd (SMSN.L, SSNNF.OB, SSNLF.OB) expects that its second-quarter operating profit will drop about 95.74 percent from last year as the memory chip downturn continues.

The Korean behemoth made KRW 77.2 trillion in Q2 2022, which means a 22% decline this year. However, Samsung has struggled to convert its revenue to profit at a healthy rate.

Samsung has reported KRW 0.67 trillion ($527 million) in operating profit for the second quarter of 2023, which is just slightly higher than last quarter's.

Samsung forecasts a 56% decline in profits for Q2, struggling with AI demand and competition in the high-bandwidth memory chip market.

(RTTNews) - Samsung Electronics Co Ltd (SMSN.L, SSNNF.OB, SSNLF.OB) expects that its second-quarter operating profit will drop about 55.94 percent from last year. The company projects quarterly ...

Samsung has been struggling over the past few months, and in Q2 2023, the company faced a 95% drop in profits for the second quarter in a row.

Samsung is expecting operating profits of 6.5 trillion won for the second quarter, a drop of 56% from 14.87 trillion won a year ago caused by the downturn in its memory semiconductor business.

In the first quarter of 2024, Samsung’s profit increased 933% YoY. It took home KRW 6.61 trillion, up from KRW 0.64 trillion in Q1 2023. The Q2 performance was even better.

Samsung Electronics on Tuesday projected a far worse than expected 56% plunge in second-quarter operating profit due to weak AI chip sales, deepening investor concerns over the tech giant's ability to ...