Samsung Electronics 2022 Profit Falls 16%

SEOUL, South Korea - Samsung Electronics (005930. KS) reported a 16% drop in annual operating profit to KRW 43.37 trillion ($34 billion) for 2022. 

Fourth-quarter revenue fell 8.58% year-on-year to KRW 70 trillion. 

Operating profit for the quarter plunged 69% to KRW 4.3 trillion. 

Full-year 2022 revenue rose 7.93% to KRW 301.77 trillion. 

The company will hold an earnings call on January 31 at 10:00 am KST.