Samsung Electronics Co Ltd (SMSN.L, SSNNF.OB, SSNLF.OB) expects that its fourth-quarter operating profit will rise about 52.49 percent from last year, reflecting solid demand for server memory chips and higher margins. The company projects quarterly sales will increase 23.48 percent.
The South Korean tech giant projects operating profit of about 13.80 trillion Korean won in the fourth-quarter, compared to 9.05 trillion won reported last year. While it reported operating profit of about 15.82 trillion won in the third-quarter.
The company also expects fourth-quarter consolidated sales of about 76.00 trillion won compared to 61.55 trillion won last year. It reported consolidated sales of about 73.98 trillion won in the third-quarter.
Fourth-quarter earnings results will be released later this month.