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Samsung Electro-Mechanics Q4 net income up 42.5 pct to 120.7 bln won

Earnings 15:06 January 25, 2023

SEOUL, Jan. 25 (Yonhap) -- Samsung Electro-Mechanics Co. on Wednesday reported its fourth-quarter net income of 120.7 billion won (US$97.8 million), up 42.5 percent from a year earlier.

The company said in a regulatory filing that operating income for the October-December period fell 68 percent on-year to 101.2 billion won. Revenue decreased 19 percent to 1.96 trillion won.

The earnings beat market expectations. The average estimate of net profit by analysts stood at 96 billion won, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.

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