UPDATE : 2019.12.16 MON 10:14
HOME Industry
Brokerages further cut Q1 corporate earnings estimate

South Korean brokerages have cut their forecasts for the first-quarter operating profits of major listed firms by 33 percent since earlier this year, as the companies are expected to feel the pinch of slowing global demand and the U.S.-China trade dispute, a market researcher said on April 24, 2019.

Brokerages expected 136 listed firms to report a combined operating profit of 23.7 trillion won (US$20.7 billion) in the January-March period, according to the market research company FnGuide.

The latest projection is down 33.1 percent from a market consensus released earlier this year, it said.

Compared with their combined operating profit for the first quarter of last year, the forecast is also down 36.4 percent.

Their first-quarter sales estimate is estimated at 348 trillion won for the January-March period, down 4.8 percent over the cited period, FnGuide said.

Samsung Electronics Co., the world's largest memory chipmaker, has issued a profit warning as prices of semiconductors have slumped.

Last month, Samsung Electronics said its first-quarter operating profit is likely to plunge 60.4 percent on-year to 6.2 trillion won.

SK hynix Inc., the world's No. 2 maker of memory chips, is expected to report a 65.9 percent dive in its first-quarter operating profit, according to FnGuide.

Hyundai Motor Co., the leading automaker here, will likely report a first-quarter operating profit of 770.2 billion won, down 15 percent from an estimate released earlier this year.

Kim Kwang-hyun, a researcher at Yuanta Securities, said analysts have trimmed local firms' first-quarter earnings as they are feeling more pessimistic about the global economy. (Yonhap)

Son Da-som  edt@koeapost.com

<저작권자 © 코리아포스트, 무단 전재 및 재배포 금지>

기사 댓글 0
첫번째 댓글을 남겨주세요.
오늘의 주요뉴스
Headlines, December 16, 2019
Reform bills face uncertainty amid partisan impasse
Reform bills face uncertainty ...
N.K. media denounces Moon's diplomatic moves
N.K. media denounces Moon's di...
Biegun to meet with Moon amid tensions over apparent N.K. rocket engine tests
Biegun to meet with Moon amid ...
Back to Top