Samsung Announces Its Operating Profit Will Double in Q4

Samsung said in a statement its operating profit for the fourth quarter of 2024 will more than double year-on-year. The company also forecasts its consolidated sales to grow 10.6%.

Operating profit is expected to climb to KRW6.5 trillion ($4.5 billion) from KRW2.8 trillion in 4Q23. Sales are estimated at KRW75 trillion. Various news outlets called its guidance lackluster, coming in below expectations due to delays in winning approval from Nvidia for next-generation HBM chips.

Samsung will release its full earnings later this month. In early October 2024, the company issued a surprising apology for its weak Q3 results and delays in shipping new HBM chips to support AI applications.