Record profits fail to impress Samsung investors
Even quarterly operating profit exceeding 100 trillion won ($74.65 billion) wasn't enough to impress investors in Samsung Electronics, whose shares have fallen about 30 percent from their June 19 peak. On Thursday, the Korean chipmaker estimated third-quarter operating profit at 107.4 trillion won, an increase of 782.5 percent from a year earlier and its fourth consecutive quarter of record…
Samsung Electronics, a leading tech company, reported record-breaking third-quarter operating profits of 107.4 trillion won, a staggering 782.5% increase from the previous year. However, despite these impressive figures, which surpass the 100 trillion won mark achieved by no other company, including tech giants Apple and Nvidia, investors were not impressed.
Samsung's shares fell by 2.42% in a single day, closing at 262,000 won on Thursday, down from the previous session's value. Both foreign and institutional investors sold significant portions of their holdings, with net sales of 348.5 billion won and 647.7 billion won, respectively. Retail investors, on the other hand, purchased shares worth 959.7 billion won.
This trend of net selling by foreign investors has continued for eight consecutive days since September 28. Nick Puckrin, a cross-asset analyst and founder of Coin Bureau, suggested that the preliminary results of Samsung's earnings growth may not be sustainable in the long run.
Written by urgent.news from The Korea Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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