According to Amac News: Samsung Electronics said its net profit for the October-December period came in at 7.75 trillion won ($5.4 billion), up 22.2 percent from 6.34 trillion won a year earlier.
Samsung's operating profit rose 129.9 percent to 6.49 trillion won, while sales rose 11.8 percent to 75.78 trillion won.
The earnings beat market expectations, as analysts' average net profit forecast was 5.69 trillion won.
The company’s semiconductor division posted an operating profit of 2.9 trillion won in the final quarter of 2024 on sales of 30.1 trillion won. Samsung also said it spent 10.3 trillion won on research and development in the fourth quarter, setting a record for 35 trillion won for 2024.
For the full year of 2024, Samsung’s net profit rose 122.5 percent to 34.45 trillion won, while operating profit nearly fivefold to 32.72 trillion won. Annual revenue also rose 16.2 percent to 300.87 trillion won, the company’s second-highest figure in history after the record set in 2022.