Samsung expects record Q4 operating profit, beating expectations
The company is expected to release detailed results later this month
DeeperDive is a beta AI feature. Refer to full articles for the facts.
[SEOUL] Samsung Electronics on Thursday projected a 208 per cent jump in fourth-quarter operating profit from a year earlier, beating analysts’ estimates as tight supply and a surge in artificial intelligence-driven demand pushed up prices for conventional memory chips.
The world’s largest memory chipmaker estimated an operating profit of 20 trillion won (S$17.7 billion) for the October-December period, compared with an LSEG SmartEstimate of 18 trillion won, a regulatory filing showed.
The operating profit is a new quarterly record. Samsung’s previous record quarterly operating profit was 17.6 trillion won in the third quarter of 2018.
Revenue would likely rise 23 per cent to 93 trillion won from a year earlier.
Samsung is expected to release detailed results, including a breakdown of earnings for each of its business divisions later this month. REUTERS
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
Share with us your feedback on BT's products and services
TRENDING NOW
From 1MDB to ‘corporate mafia’: Is Malaysia facing a new governance test?
Higher costs, lower returns: Why are Singaporeans still betting on real estate?
South-east Asian markets account for 8.8% of global capital inflows from 2021 to 2024: report
Richard Eu on how core values, customers keep Singapore’s TCM chain Eu Yan Sang relevant