Business · Markets · 4 hrs ago

Samsung shares fall as investors weigh earnings and shareholder returns

Samsung shares fall as investors weigh earnings and shareholder returns

Samsung Electronics shares turned lower after the company released detailed results for the third quarter.

The South Korean company reported operating profit of 107.4 trillion won, up 783.1% from a year earlier.

Its chip division earned 106.5 trillion won in operating profit, below market expectations of nearly 110 trillion won.

Samsung also announced 30 trillion won in additional shareholder returns.

A CLSA analyst said the lack of new share buyback announcements weighed on the stock, while another explanation raised was that results and returns fell short of high investor expectations.

Samsung shares fell by more than 4%, and the KOSPI dropped below 6,000, down 2.07% at the time reported.

The reports do not say what happens next.

3 sources

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Suk-hwan KimMirae Asset Securities researcher
Samsung reversed after confirmation that semiconductor operating profit fell short of raised expectations, and volatility increased.
via Yonhap