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    A005930   KR7005930003

SAMSUNG ELECTRONICS CO., LTD.

(A005930)
  Report
End-of-day quote Korea Stock Exchange  -  2022-12-05
59200.00 KRW   -1.82%
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Qualcomm revenue forecast disappoints on cooling smartphone demand

07/27/2022 | 04:03pm EST
FILE PHOTO: A Qualcomm sign is pictured at Mobile World Congress (MWC) in Shanghai

(Reuters) - Qualcomm Inc forecast fourth-quarter revenue below estimates on Wednesday, bracing for difficult economic conditions and a slowdown in smartphone demand that could hit its mainstay handset chips business.

The chip designer still surpassed expectations for adjusted revenue in the third quarter.

Qualcomm's forecast comes at a time when leading chipmakers including Micron Technology and Texas Instruments have warned of cooling consumer electronics demand.

Smartphone sales have come under pressure as runaway inflation, growing recession risks and repeated COVID-19 lockdowns in China force consumers to rein in spending. Global smartphone shipments will fall 3.5% this year, according to data from IDC.

The Ukraine crisis and China lockdowns worsened supply-chain snags as well and hurt demand, forcing many phone makers to cut orders for chips.

Qualcomm is looking to diversify to sectors such as automotives, but its handset chip business still makes up more than half of total sales.

The company forecast current-quarter revenue between $11 billion and $11.8 billion, compared with analysts' estimates of $11.87 billion, according to Refinitiv data.

It expects adjusted earnings per share of between $3 and $3.30, compared with estimates of $3.23.

Qualcomm said the mid-point of its fourth-quarter forecast included an estimated impact of an about 20 cents reduction to earnings per share due to macroeconomic headwinds and a lower global handset forecast.

Adjusted revenue for the quarter ended June 26, when analysts expected strong demand from Apple, was $10.93 billion, compared with estimates of $10.88 billion.

Separately, Qualcomm said it has also extended its patent license agreement with Samsung Electronics through the end of 2030. It also agreed to expand the use of Snapdragon platforms for future premium Samsung Galaxy products, including Samsung Galaxy phones.

(Reporting by Chavi Mehta in Bengaluru and Jane Lanhee Lee in Oakland, California; Editing by Devika Syamnath)


ę Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
APPLE INC. -2.54% 142.91 Delayed Quote.-19.52%
MICRON TECHNOLOGY, INC. -0.67% 53.68 Delayed Quote.-41.99%
QUALCOMM, INC. -2.85% 119.78 Delayed Quote.-34.50%
SAMSUNG ELECTRONICS CO., LTD. -1.82% 59200 End-of-day quote.-24.39%
TEXAS INSTRUMENTS -1.72% 174.34 Delayed Quote.-5.88%
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Analyst Recommendations on SAMSUNG ELECTRONICS CO., LTD.
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Financials
Sales 2022 308 594 B 234 B 234 B
Net income 2022 36 884 B 28,0 B 28,0 B
Net cash 2022 110 776 B 84,0 B 84,0 B
P/E ratio 2022 10,5x
Yield 2022 2,47%
Capitalization 397 847 B 302 B 302 B
EV / Sales 2022 0,93x
EV / Sales 2023 0,91x
Nbr of Employees -
Free-Float 83,1%
Chart SAMSUNG ELECTRONICS CO., LTD.
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Samsung Electronics Co., Ltd. Technical Analysis Chart | MarketScreener
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Technical analysis trends SAMSUNG ELECTRONICS CO., LTD.
Short TermMid-TermLong Term
TrendsNeutralBullishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 39
Last Close Price 59 200,00 KRW
Average target price 75 692,31 KRW
Spread / Average Target 27,9%
EPS Revisions
Managers and Directors
Jong-Hee Han Vice Chairman & Co-Chief Executive Officer
Kye Hyun Kyung Co-Chief Executive Officer & Executive Director
Hee-Chan Roh Chief Financial Officer
Han-Jo Kim Chairman
Jae-Yong Lee Executive Chairman
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