SEOUL, Jan 8 : 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 ($13.82 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.
($1 = 1,446.9800 won)
Source: CNA
