Samsung SDS shares were falling in early trading on the 23rd. The sell-off is seen as stemming from news that Samsung SDS, which released results that day, delivered an "earnings shock."
As of 9:59 a.m. that day, Samsung SDS stock was trading on the Korea Exchange down 3.94% (7,100 won) from the previous session at 173,000 won.
Samsung SDS disclosed first-quarter results that morning. On a consolidation basis, operating profit for the first quarter of this year was tentatively tallied at 78.3 billion won, down 70.8% from a year earlier.
This figure is far below the consensus (market average forecast). According to FnGuide, the first-quarter operating profit consensus for Samsung SDS this year was 201.9 billion won.
Meanwhile, first-quarter sales at Samsung SDS fell 3.9% on-year to 3.3529 trillion won, and net profit dropped 57.8% to 91.8 billion won.