Samsung Electronics reported a 131% surge in fourth-quarter operating profit year-on-year, but fell short of analyst expectations. The company attributed the lower-than-expected earnings to slowing demand for PCs and smartphones, alongside increased R&D expenses and investments in advanced chip manufacturing.
SEOUL - 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 for the three months ended Dec. 31, versus a 7.7 trillion won LSEG SmartEstimate.
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