Samsung Electronics on Thursday reported third-quarter sales and operating profit slightly above its own expectations, but its chip business posted a sharply lower profit from the previous quarter.
The semiconductor unit reported third-quarter operating profit of 3.86 trillion won (about $2.8 billion), down 40% from the previous quarter.
While its memory chip unit benefited by strong demand for its artificial intelligence and conventional server products, Samsung said "inventory adjustments negatively impacted mobile demand."
While artificial intelligence drove demand for advanced nodes from its foundry unit, Samsung said mobile and PC demand underperformed.
Here are Samsung's results compared with the guidance it issued earlier this month:Revenue : 79.1 trillion won vs. 79 trillion: 79.1 trillion won vs. 79 trillion Operating profit: 9.18 trillion vs. 9.1 trillion wonThose guidance figures were markedly lower than the LSEG estimate for 11.456 trillion won in operating profit.
Persons:
Jun Young
Organizations:
Samsung Electronics, Samsung
Locations:
China