Today, Samsung posted its Q2 2023 financial results. The report says Samsung's profits have dropped considerably compared to last year.

Samsung sees 95% drop in profits for a second consecutive quarter::Today, Samsung posted its Q2 2023 financial results. The report says Samsung’s profits have dropped considerably compared to last year.

  • SuperStonker@lemmy.mlEnglish
    0·
    11 months ago

    😳I really didn’t mean to upset you so much wee man… don’t get too emotional. Just having a conversation here aren’t we?

    Percentage is entirely legitimate to look at, it’s merely a way of quantifying what the raw numbers mean versus the raw numbers from last years performance.

    No one said Samsung stock is tanking, you’re kind of shouting that into an empty room.

    I was acknowledging that a 95% drop in profits vs the same period over the previous year is definitely a newsworthy item especially in two consecutive quarters… I think any shareholder of Samsung would agree.

    • ImFresh3x@sh.itjust.worksEnglish
      1·
      11 months ago

      Company makes 1 dollar q1 2022. Company makes $.05. Q2 of 2023.

      Headline: “company loses 95% of its profits.”

      It’s the opposite of meaningful.

      • SuperStonker@lemmy.mlEnglish
        1·
        11 months ago

        It is meaningful if you measure Q1 2020 vs Q1 2021. You’ve got a bit confused as to what YOY is, you’re not just measuring two random quarters from different years (q1 2022 vs q2 2023?), you’re comparing against the performance in the same quarter the previous year.

        It is a very meaningful way of judging whether a companies performance (ability to turn a profit and create value for the investor) has improved against the same period the previous year.

        https://www.investopedia.com/terms/y/year-over-year.asp

        There is a little bit of very basic information for you. I can try find something more colourful and with nice pictures if you need.