1/31, 1:18 AM (Source: TeleTrader)
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Samsung's net income rises by 120% to $19.4B in Q4

Samsung Electronics Co.'s income statement released on Tuesday showed the company's net income in the fourth and final quarter of 2022 landed at 23.8 trillion won ($19.4 billion) to mark a year-on-year jump of 120 percent, despite dropping on a quarterly basis.

For the three months through December, the South Korean tech giant booked an operating profit of 4.3 trillion won, which is 68% less on an annual basis, as its sales fell by 8% to hit 70.5 trillion won.

The company booked a net profit of 55.6 trillion won in 2022, rising by 39.5% year-on-year. Annual sales reached 302.2 trillion won, up 8.1% on a yearly basis, while its operating profit for the full year hit a record-high 43.4 trillion won.

Baha Breaking News (BBN) / NL