Samsung Electronics' Q4 preliminary profit W9.2 tril.
By Yoon Ja-young
Samsung Electronics reported 9.2 trillion won ($7.72 billion) in preliminary operating profit for the fourth quarter, up 50 percent from a year ago, beating market expectations.
The market consensus was about 8.2 trillion won. It is the highest quarterly profit in more than three years, and marks a 77 percent jump from a quarter earlier, according to its earnings guidance released Friday.
The earning surprise reflects robust demand for chips and displays, which allowed the company to more than offset huge losses from global recall of Galaxy Note 7.
Its operating profit in memory chips is estimated at a record 4.5-5 trillion won in the fourth quarter.
Operating profit in the IT mobile business is estimated at over 2 trillion won. Despite failure of Galaxy Note 7, strong sales of Galaxy S7 and other affordable models also enabled the tech giant to attain better-than-expected earnings.