A tax credit of 2.82 trillion won helped lift Samsung’s bottom line to nearly double what analysts had estimated. The company’s operating profit was 2.8 trillion won on sales of 67.8 trillion won, in line with preliminary figures revealed at the start of the month.
Samsung Electronics Co posted its fourth straight quarter of profit decline in the holiday quarter, after a long-awaited recovery in chip and electronics demand delivered few returns for the world’s biggest memory maker.
South Korea’s most valuable company said net income fell 74% in the last three months of the year to 6.02 trillion won (YS$4.5 billion), after its mainstay chip operations posted a loss of 2.18 trillion won — bigger than what analysts projected.
