Samsung Profit Beats After Chip Prices Stage Comeback
- Sales fell short of expectations, but profit outperformed
- 2020 expected to extend recovery in memory demand and price
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Samsung Electronics Co.’s quarterly earnings beat estimates after memory chip prices began to climb out of a persistent downturn.
The world’s largest memory chip maker reported a 34% fall in operating income to 7.1 trillion won ($6.1 billion) in the three months ending December, according to preliminary results released Wednesday by the Suwon, South Korea-based company. That compares with the 6.49 trillion won average of analysts’ estimates.