Samsung’s profit – level 2

16-10-2023 07:00

Samsung Electronics announced that its profit for the third quarter was better than expected, and it dropped by only 78%.

This is good news because the memory chip market has been going through a tough time, and now there are early signs that it might get better. Samsung’s shares went up by 3.3%, which is better than the wider market’s 1.4% increase. Some types of chips are starting to go up in price.

Samsung estimated that its profit from July to September would be about 1.79 billion dollars, which is much less than last year. But this was better than what most experts expected.

Difficult words: profit (money which a company makes), quarter (one-fourth of a year), share (one part of a company which you can buy).

You can watch the original video in the Level 3 section.

What impact, if any, will the increase in some chip prices have on Samsung's bottom line?


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