Published: Wed, January 10, 2018
Entertaiment | By Lawrence Myers

Samsung Electronics expects Q4 operating profit to jump 63.8 pct

Samsung Electronics expects Q4 operating profit to jump 63.8 pct

Sales are estimated to have increased 14.8 percent over the cited period to 16.9 trillion won, it added.

The preliminary figures for revenue and operating profit were up 18.7 percent and 83.3 percent each from the prior year.

According to the earnings guidance that was recently released, the last quarter of 2017 was a great one for Samsung. It still did not meet analysts' expectations because they had targeted a 15.9 trillion won (12.5 billion euro) profit.

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South Korean telecom giant Samsung Electronics expects to post record operating profits of $14.1 billion in the fourth quarter, it said Tuesday. Sales are expected to reach KRW 66 trillion for the three months ended 31 December 2017, which represents an increase of 23.8 percent year-on-year.

Samsung Electronics' financial performance has soared despite his travails.

The local stock market opened higher taking a cue from overnight US gains, but the index slipped in afternoon trades to close lower.

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Lee Seung-woo, a researcher at Eugene Investment and Securities, expected Samsung to continue with solid earnings in the first-quarter of this year, though the strong Korean won versus the USA dollar could be a drag. However, despite the lower-than-expected results, operating profits in 2017 are the second highest in the company's history, behind 2009.

"Investors will wait for quarterly reports of other tech heavyweights to make changes to their portfolios".

Hanwha Investment & Securities also said Samsung's business conditions will remain solid even if the fourth-quarter earnings hover below market expectations, attributing the results to one-off costs, such as special bonuses paid out to staff following robust returns.

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Shares of LG Electronics closed at 105,000 won on the main bourse Monday, down 5.41 percent from the previous session.

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