November 22, 2024

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[THE INVESTOR] Korean tech giant Samsung Electronics said on Dec. 9 its fourth-quarter operating profit is expected to jump 63.8 percent on-year.

Operating profit was estimated at 15.1 trillion won (US$14.10 billion) in the October-December period last year, up from 9.2 trillion won tallied during the same three months in 2016, the company said in a regulatory filing.

Sales were anticipated to have surged 23.8 percent to reach 66 trillion won over the cited period, it said.

Samsung did not provide details for business divisions. The tech giant is expected to elaborate on the results in its finalized report, which will be delivered later this month.

Shares of Samsung Electronics closed at 2,601,000 won on the main bourse on Dec. 8, down 0.19 percent from the previous session.

By Alex Lee and newswires (alexlee@heraldcorp.com)