Samsung Electronics Q4 profit jumps on server chip demand, foundry margins

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Samsung Electronics

 Co Ltd on Friday said its fourth-quarter operating profit likely jumped 52 per cent on-year to its highest for the quarter in four years, helped by solid demand for server memory chips and higher margins in chip contract manufacturing.


The world's largest memory chip and smartphone maker estimated October-December profit at 13.8 trillion won ($11.5 billion), which would be tech giant's highest fourth-quarter operating profit since Q4 2017.


The result missed a Refinitiv SmartEstimate of 15.2 trillion won, which analysts attributed to items such as employees' bonuses, marketing costs for its mobile business, and ramp-up costs for new display panels being included in the quarter.


"It looks like a shock because it came out less than the consensus, but I don't think it's as bad as it looks. It seems they reflected various costs in the fourth quarter," said Park Sung-soon, analyst at Cape Investment & Securities.


"It's unclear as of now if there were any changes in expected chip shipments," Park added.


Revenue likely rose 23 per cent from the same period a year earlier to 76 trillion won, the company said in a short preliminary earnings release.


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