From Dow Jones & Company:

Samsung Electronics expects its fourth-quarter operating profit to fall 35% from a year earlier, at 2.800 trillion won, missing market expectations and dampening hopes for an earnings recovery. The company’s operating-profit estimate missed the consensus forecast of 3.797 trillion won for the December quarter. Weaker-than-expected earnings results would run against expectations that Samsung’s flagship memory-chip business could continue to improve and drive its overall recovery on higher DRAM prices and solid demand for powerful artificial-intelligence computing chips. Revenue is expected to fall 4.9% to 67.000 trillion won for the quarter. Operating profit for 2023 is expected to plunge 85% to 6.540 trillion won, while revenue is forecast to fall 15% to 258.160 trillion won. Samsung is set to release its full quarterly results later this month.



Read more: Samsung Electronics expects profit to plunge again in fourth quarter