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Samsung Electronics Q3 net income down 23.6% to $6.6 billion

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  • Published Oct 27, 2022 9:38 am KST
  • Updated Oct 27, 2022 9:38 am KST

A man walks past the logo of Samsung in Suwon, Gyeonggi Province. Newsis

Samsung Electronics on Thursday reported its third-quarter net profit of 9.38 trillion won ($6.6 billion), down 23.6 percent from a year earlier.

The company said in a regulatory filing that operating income for the July-September period fell 31.4 percent on-year to 10.85 trillion won. Revenue increased 3.8 percent to 76.78 trillion won.

The earnings exceeded market expectations. The average estimate of net profit by analysts stood at 9.07 trillion won, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency. (Yonhap)