BUSINESS Samsung Electronics' operating profit drops 31.4 pct in Q3

BUSINESS

Samsung Electronics' operating profit drops 31.4 pct in Q3

Xinhua

12:21, October 27, 2022

File photo: Xinhua

SEOUL, Oct. 27 (Xinhua) -- South Korea's tech behemoth Samsung Electronics logged a double-digit fall in its third-quarter operating profit, the company said Thursday.

Consolidated operating profit dropped 31.4 percent from a year earlier to 10.85 trillion won (7.6 billion U.S. dollars) in the July-September quarter.

It missed market expectations of about 11.4 trillion won (8 billion dollars).

Revenue grew 3.8 percent to 76.78 trillion won (54 billion dollars) in the third quarter, topping 70 trillion won (49.2 billion dollars) for the fifth consecutive quarter.

Net income declined 23.6 percent to 9.39 trillion won (6.6 billion dollars) in the cited quarter.

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