Samsung Electronics
005930,
expects its fourth-quarter working revenue to fall 35% from a 12 months earlier, lacking market expectations and dampening hopes for an earnings restoration led by its semiconductor enterprise.
The world’s largest maker of reminiscence chips, smartphones and televisions mentioned in a preliminary earnings forecast Tuesday that its working revenue is anticipated at 2.800 trillion received ($2.13 billion) for the October-December quarter, in contrast with KRW4.310 trillion for a similar interval a 12 months earlier.
The firm’s operating-profit estimate missed the FactSet-compiled consensus forecast of KRW3.797 trillion for the December quarter.
Weaker-than-expected quarterly earnings outcomes would run in opposition to expectations from most market analysts that Samsung’s flagship memory-chip enterprise may proceed to enhance and drive its total restoration on increased DRAM costs and stable demand for highly effective artificial-intelligence computing chips.
The firm is about to launch its full quarterly outcomes later this month.
Revenue is anticipated to fall 4.9% to KRW67.000 trillion for the quarter, the South Korean tech large mentioned.
For 2023, working revenue is anticipated to plunge 85% to KRW6.540 trillion, whereas income is forecast to fall 15% to KRW258.160 trillion.
Source web site: www.marketwatch.com
