Samsung Biologics Q3 net income down 21.2% to $295.2 mil.
Samsung Biologics, the biotech arm of Samsung Group, on Wednesday reported its third-quarter net profit of 391.1 billion won ($295.2 million), down 21.2 percent from a year earlier. The contract development and manufacturing organization (CDMO) service provider, which offers comprehensive development and manufacturing solutions, said in a regulatory filing that it posted 640.1 billion won in…
Samsung Biologics, a subsidiary of Samsung Group, announced a 21.2% decrease in its net income for Q3 2023, reporting a net profit of $295.2 million compared to $375.2 million in the previous year. Despite a 21.2% decline, the company's operating profit remained robust at 640.1 billion won, showing a 5.1% increase from the previous year. Revenue for the quarter grew by 18.5% to reach 1.49 trillion won, surpassing the average market estimate for net profit, which was not provided.
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