Samsung Elec says Q4 profit likely rose 26%, in line with estimates By Reuters

SEOUL (Reuters) – Samsung Electronics (LON:0593xq) Co Ltd said on Friday fourth-quarter operating profit likely rose 26% as pandemic-driven remote working and TV-watching fuelled sales of chips and display panels, offsetting weaker smartphone sales.

The South Korean tech giant said operating profit was likely 9 trillion won ($8.23 billion) in the quarter ended December, in line with the 9.1 trillion won analyst forecast by Refinitiv SmartEstimate.

Revenue likely rose 1.9% to 61 trillion won from a year earlier, the company said.

Samsung provides only estimates of quarterly revenue and operating profit in its preliminary earnings release. The firm is due to release detailed earnings later this month.

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