Economic news
Samsung Q4 operating profit outlook misses estimates by large margin
2025.01.07 19:15
SEOUL (Reuters) -Samsung Electronics estimated on Wednesday a 131% jump in fourth-quarter operating profit from a year earlier but missed analyst estimates by a large margin as it lagged behind rival SK Hynix in supplying high-end chips to Nvidia (NASDAQ:).
The world’s largest memory chip, smartphone and TV maker estimated an operating profit of 6.5 trillion won ($4.47 billion) for the three months ended Dec. 31, versus a 7.7 trillion won LSEG SmartEstimate.
Samsung (KS:) said in a statement on Wednesday that its chip earnings were hurt by slowing demand for PCs and mobile phones, as well as rising research and development costs and investments in manufacturing capacity for advanced chip processes.
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