The company said Q4 2023 Net sales were $5,019 million, down 7.7% from $5,438 million a year earlier. The company attributed the decline to customers narrowing their business priorities amid continued economic uncertainty, which led to reduced or delayed hardware spending.

1. 01

   The company said Q4 2023 Net sales were $5,019 million, down 7.7% from $5,438 million a year earlier. The company attributed the decline to customers narrowing their business priorities amid continued economic uncertainty, which led to reduced or delayed hardware spending.

2. 02

   The company said full-year 2023 Net sales fell 10.0% to $21,376 million, and Net income declined 0.9% to $1,104 million. Net income per diluted share was $8.10, down from $8.13 a year earlier, or 0.4% lower, while Non-GAAP net income per diluted share rose 0.9% to $9.88.

3. 03

   Gross profit margin was 23.0% in Q4 2023, up from 21.7% a year earlier, and 21.8% for the full year, up from 19.7%. The company cited a more favorable contribution of netted down revenue, primarily software as a service, as the main factor.

4. 04

   The company said its Board of Directors declared a quarterly cash dividend of $0.62 per share and increased its share repurchase program by $750 million. The company said the increase is in addition to the $338 million unused as of December 31, 2023 and that it has no obligation to repurchase any dollar amount or number of shares.

Analysis scope · Filing body and confirmed press-release exhibitWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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