Customers shop at a Samsung mobile store inside a shopping mall in New Delhi.
Reuters | Anindito Mukherjee
Samsung Electronics on Friday reported better-than-expected fourth-quarter revenue and operating profit, though its operating profit sharply dropped from last quarter.
Here are Samsung’s fourth-quarter results compared with LSEG SmartEstimate, which is weighted toward forecasts from analysts who are more consistently accurate:
- Revenue: 75.8 trillion Korean won vs. 75.4 trillion KRW
- Operating profit: 6.5 trillion KRW vs. 6.8 trillion KRW
Revenue was about 12% up from the same period from last year, while operating profit grew about 130%, year on year.
However, operating profit fell nearly 30% to 6.5 trillion won.
Fourth-quarter revenue beat Samsung’s own guidance of 75 trillion KRW, while operating profit came in line with the company’s forecast.
Samsung is a leading manufacturer of memory chips, which are utilized in devices such as laptops and servers, and is also the world’s second-largest player in the smartphone market.
“Although fourth quarter revenue and operating profit decreased on a quarter-on-quarter (QoQ) basis, annual revenue reached the second-highest on record, surpassed only in 2022,” Samsung said in a press release.
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