Samsung could be heading for a 50 percent profit drop

Samsung could be heading for a 50 percent profit drop

The Korean conglomerate

expects another profit slump for the three-month period that ended in September:

in particular, it believes it will post an operating profit of around 7.7 trillion Korean won (US$6.44 billion).

That’s higher than the 6.6 trillion won (US$5.5 billion) profit Samsung made in the second quarter,

but it’s also down 56 percent from the same period in 2018 when the company made 17.57 trillion won (US$14.7 billion) in profit.

Samsung Electronics Announces Earnings Guidance for 3Q 2019

Samsung Electronics announced its earnings guidance for the third quarter of 2019.

Consolidated Sales: Approximately 62 trillion Korean won

Consolidated Operating Profit: Approximately 7.7 trillion Korean won

The above estimates

are based on K-IFRS. Please note that Korean disclosure regulations do not allow earnings estimates to be offered as a range.

To comply with such regulations, the above figures represent the median of the estimate ranges provided below.

Sales: 61 ~ 63 trillion Korean won

Operating Profit: 7.6 ~ 7.8 trillion Korean won

※ 2019 2Q and 2018 3Q consolidated figures based on K-IFRS are as follows

(in trillion won) 2019.2Q 2018.3Q
Sales 　　　　　　56.13 　65.46
Operating profit 6.60　 17.57
Samsung Global Newsroom