{"id":111700,"date":"2024-10-08T07:25:50","date_gmt":"2024-10-08T00:25:50","guid":{"rendered":"https:\/\/hotvideos24.online\/?p=111700"},"modified":"2024-10-08T07:25:50","modified_gmt":"2024-10-08T00:25:50","slug":"samsung-posts-worse-than-expected-guidance-for-third-quarter","status":"publish","type":"post","link":"https:\/\/hotvideos24.online\/?p=111700","title":{"rendered":"Samsung posts worse-than-expected guidance for third quarter"},"content":{"rendered":"<p> <script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<\/p>\n<div id=\"RegularArticle-ArticleBody-5\" data-module=\"ArticleBody\" data-test=\"articleBody-2\" data-analytics=\"RegularArticle-articleBody-5-2\"><span class=\"HighlightShare-hidden\" style=\"top:0;left:0\"\/><\/p>\n<div class=\"InlineImage-imageEmbed\" id=\"ArticleBody-InlineImage-108001810\" data-test=\"InlineImage\">\n<div class=\"InlineImage-wrapper\">\n<div>\n<p>The Samsung logo is on display at their pavilion during the Mobile World Congress in Barcelona, Spain, on February 28, 2024. (Photo by Joan Cros\/NurPhoto via Getty Images)<\/p>\n<p>Nurphoto | Nurphoto | Getty Images<\/p>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"group\">\n<p>South Korean tech giant Samsung Electronics said it<strong> <\/strong>expects worse-than-expected profit for the third quarter.<\/p>\n<p>In guidance released Tuesday, the world&#8217;s top memory chip maker said operating profit for the quarter ending September is projected to be around <a href=\"https:\/\/englishdart.fss.or.kr\/dsbh001\/main.do?rcpNo=20241008800067\" target=\"_blank\" rel=\"noopener\">9.10 trillion won<\/a>, marking a 274% surge <a href=\"https:\/\/www.cnbc.com\/2023\/10\/31\/samsung-q3-earnings-2023-memory-chip-demand-to-improve.html\">from last year&#8217;s 2.43 trillion Korean won<\/a>.<\/p>\n<p>Performance of Samsung&#8217;s memory business decreased as a result of &#8220;one-time costs and negative effects,&#8221; which includes inventory adjustments by mobile customers and increased supply of legacy products by Chinese memory companies,&#8221; Samsung wrote in a statement.<\/p>\n<p>Samsung is the leading manufacturer of memory chips, which are utilized in devices like laptops and servers. It is also the world&#8217;s second largest player in the smartphone market.<\/p>\n<p>Shipments of HBM3E chips to major customers were also delayed, the company added.<\/p>\n<p>Analysts polled by LSEG expected an operating profit of 11.456 trillion Korean won ($7.7 billion) for the quarter ended Sept. 30. Samsung&#8217;s revenue for the quarter was expected to hit 81.96 trillion won ($61 billion), according to LSEG estimates.<\/p>\n<p>&#8220;The company needs to remain flexible about its memory supply control, since the downfall of conventional DRAM will likely hurt Samsung more than its smaller rivals,&#8221; Macquarie Equity Research analysts said in a recent note. DRAM refers to dynamic random access memory chips that are often used in laptops, workstations and PCs.<\/p>\n<p>Samsung had instructed its subsidiaries around the world to reduce 30% of staff in some divisions, <a href=\"https:\/\/www.cnbc.com\/2024\/09\/12\/samsung-electronics-plans-global-job-cuts-of-up-to-30percent-in-some-divisions.html\">Reuters reported in September, citing two sources<\/a> with knowledge of the matter.<\/p>\n<p>Shares of Samsung Electronics listed in South Korea&#8217;s stock exchange have seen a 22% decrease year-to-date, LSEG data showed. The company is set to release detailed third-quarter results later this month.<\/p>\n<p>Samsung&#8217;s shares slipped 0.98% following the release of the guidance.<\/p>\n<\/div>\n<\/div>\n<p><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<br \/><div data-type=\"_mgwidget\" data-widget-id=\"1660802\">\r\n<\/div>\r\n<script>(function(w,q){w[q]=w[q]||[];w[q].push([\"_mgc.load\"])})(window,\"_mgq\");\r\n<\/script>\r\n<br \/>\n<br \/><a href=\"https:\/\/www.cnbc.com\/2024\/10\/08\/samsung-posts-worse-than-expected-guidance-for-third-quarter.html\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Samsung logo is on display at their pavilion during the Mobile World Congress in Barcelona, Spain, on February 28, 2024. (Photo by Joan Cros\/NurPhoto via Getty Images) Nurphoto | &hellip; <a href=\"https:\/\/hotvideos24.online\/?p=111700\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-111700","post","type-post","status-publish","format-standard","hentry","category-business","entry"],"_links":{"self":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/111700","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=111700"}],"version-history":[{"count":0,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/111700\/revisions"}],"wp:attachment":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=111700"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=111700"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=111700"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}