Samsung Electronics Q4 profit jumps on server chip demand, foundry margins
Samsung is due to release detailed earnings on January 27
Samsung Electronics Co Ltd on Friday (January 7) said its fourth-quarter operating profit likely jumped 52% on-year to its highest for the quarter in four years, helped by solid demand for server memory chips and higher margins in chip contract manufacturing.
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The world's largest memory chip and smartphone maker estimated October-December profit at 13.8 trillion won ($11.5 billion), which would be tech giant's highest fourth-quarter operating profit since Q4 2017.
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The result missed a Refinitiv SmartEstimate of 15.2 trillion won, which analysts attributed to items such as employees' bonuses, marketing costs for its mobile business, and ramp-up costs for new display panels being included in the quarter.
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Revenue likely rose 23% from the same period a year earlier to 76 trillion won, the company said in a short preliminary earnings release. Samsung is due to release detailed earnings on January 27.
(Production: Daewoung Kim, Minwoo Park)