On Thursday, Samsung SDS Co. reported that its third-quarter net income dropped to 176.6 billion won (US$130.3 million), a decrease of 55.9% compared to the same period a year prior.
Operating income for the July-September period was 193 billion won, an increase of 4.3% from the same time frame in 2019. Revenue declined by 23.6% to 3.2 trillion won.
The results of the quarter exceeded market forecasts. According to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency, the average prediction of net profit was 172 billion won.