Seoul, Jan 31 (Reuters) - Samsung Electronics 005930.ks Reported Fourth-Quarter Profit That Rose 130% From a Low Base, Confirming It Had Missed Earlier Estimates Due to Slowing Memory Chip Demand and Extra Costs as It Works Towards Providing High-End Chips to Nvidia Nvda.o.
The World's Largest Memory Chip Maker Said on Friday That Operating Profit Rose to 6.5 Trillion Won ($4.49 Billion) in October-December, up From 2.82 Trillion Won a Year Earlier When the Memory Chip Industry Was Still Struggling With Its Worst Downturn in Decades.
The Profit Was Down 29% From the Previous Quarter.
Samsung's Fourth-Quarter Operating Profit Was in Line With the Preliminary Figure of 6.5 Trillion Won the Company Reported Earlier This Month.
($1 = 1,447.5200 Won)
(Reporting by Joyce Lee and Hyunjoo Jin; Editing by Christopher Cushing)
((Joyce.lee@Tr.com;))
Comment(1)
Everybody knows Nvidia is done ✅ not going about 124$ tomorrow
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