Samsung Clocks 4% Revenue Growth In Q3; Sees Recovery In 2023 Second Half

Samsung Electronics Co, Ltd SSNLF reported third-quarter FY22 revenue growth of 3.8% year-on-year to KRW 76.78 trillion.
Semiconductor businesses revenue declined 12.8% Y/Y to KRW 23.02 trillion.
SDC reported revenue of KRW 9.39 trillion, driven by record revenue for the mobile panel business following the release of new flagship smartphones, including foldables.
The MX and Networks businesses had revenue of KRW 32.21 trillion, driven by sales of flagship products, including foldable and new wearables. The Networks Business saw an improvement in earnings, led by overseas businesses, including a deal with Comcast.
The Visual Display and Digital Appliances businesses posted KRW 14.75 trillion in revenue as they expanded sales of premium products. But earnings declined due to weak demand and increased costs. The Digital Appliances Business saw continued challenges due to higher materials and logistics costs amid sluggish demand.
The operating profit declined 31.4% Y/Y to KRW 10.85 trillion.
The capex reached KRW 12.7 trillion, including KRW 11.5 trillion spent in the DS Division.
The full-year capex for 2022 will likely be KRW 54 trillion, including KRW 47.7 trillion allocated to the DS Division.
Samsung expects geopolitical uncertainties to likely dampen demand in the first half of 2023, followed by possible recovery later next year, driven by resumed installations of data centers and the adoption of DDR5 for new CPUs.
Chair Transition: Jay Y. Lee became the Executive Chair of the company.
Photo Via Company

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