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…
Even though Samsung Electronics reported operating profits of over 100 trillion won, the company's shares plummeted, triggering skepticism among investors. The South Korean tech giant's third-quarter profit estimate for the upcoming period reached 107.4 trillion won, marking a staggering 782.5% increase compared to the previous year. This marked the fourth consecutive quarter of record earnings for Samsung, a feat not achieved by any other company, including tech titans like Apple or Nvidia.
Despite these impressive figures, the blockbuster results failed to reassure investors about the longevity of Samsung's earnings growth. By Thursday, Samsung's shares had closed at 262,000 won, a 2.42% decline from the previous trading session. Both foreign and institutional investors sold a combined 995.2 billion won worth of shares, while retail investors bought 959.7 billion won.
Notably, foreign investors have been net sellers for eight straight sessions since September 28, according to Nick Puckrin, a cross-asset analyst and founder of Coin Bureau.
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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