Samsung flags record 4Q profit but misses expectations

10 Enero, 2018, 00:57 | Author: Arnold Perez
  • Samsung targets record fourth quarter profit

According to a report released by the firm on Tuesday, its estimated operating profit for the October-December period jumped 64 percent on-year to a record high of 14.1 billion US dollars. For the October-December period of previous year, the estimated operating profit of the Korean company is at 366.8 billion won, which is about $343 million. Revenues are expected to be 14.8 percent higher with operating profit turning from a loss to a gain from the same quarter one year prior.

Samsung Electronics' fourth-quarter sales were projected to have jumped 23.8 percent year-on-year to 66 trillion won.

South Korean stocks finished lower on January 9 due to tech losses, triggered by Samsung Electronics' weaker-than-expected earnings estimates due to the strengthening local currency, analysts said.

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Preliminary revenue for the December quarter advanced 23.8 percent over the year to 66 trillion won (61.9 billion US dollars).

Samsung Electronics' financial performance has soared despite his travails.

Samsung said it expects its operating profits for the 2017 full year to hit 53.6 trillion won and to post full-year sales of 239.6 trillion won. The details are expected to be revealed later this month in the firm's finalized report, but industry watchers say the main driver of these record-high figures is the booming semiconductor sector.

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