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.

  • ImFresh3xEnglish
    1·
    1 year 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·
      1 year 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.