Samsung expects record profits for fourth-quarter
On Tuesday, the Samsung electronics revealed that it was positively expecting record operating profit of nearly 15.1 trillion Korean won which was about $14.13 billion for the December quarter.
That indicated that the numbers were less than that of a Reuters average forecast of about 15.9 trillion won in the operating profit, but it was expected to be up 64 % from a year ago.
Samsung told that its 4th quarter revenue which was about 66 trillion won and it was slightly short off a Reuters forecast average of 66.8 trillion won. For the last complete year 2017, Samsung told that it exerts team calculating operating profit of around 53.6 trillion won against profit sales of 239.6 trillion won.
Samsung predicts record profit for 4th quarter, but it falls short of expectations
In the mid-morning trade, the Samsung shares slowdown to 1.92 % in the stock market, which is assumed to be because of lingering doubts over the business outlook of the company. The broader Kospi index was rose to 0.12 %.
The senior analyst and senior vice president of semiconductors at Susquehanna Financial Group, Mehdi Hosseini on Tuesday told that, “I think, the miss in my opinion, is mainly driven by the smartphones. But I even think that the semiconductors, driven by display, memory and OLED performed really well.”
The South Korean technology giant did not expand on its performance and they will reveal full earnings in late January, according to a source.
But more than recent quarters, the world’s biggest maker of memory chips, electronics items and smart phones has been recording its increasing semiconductor business to become a largest earnings driver. As per the Samsung it’s because of the strong demand for memory chips from new smartphones and data centers too.
In the last quarter, Samsung garnered an operating profit of 14.5 trillion won. It had recorded quarterly revenue of around $ 55 billion & expected that it would pay dividends of around 29 trillion won in the period of 2018-2020.