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Samsung's profit jumps 64 percent to record high on chips
Published in 9-1-2018
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SEOUL, South Korea (AP) Samsung Electronics said its October-December operating profit jumped 64 percent to a record high, capping off 2017 with the biggest annual operating income and sales in its history thanks to the blockbuster semiconductor business. In its earnings preview Tuesday, the South Korean company put its operating profit at 15.1 trillion won ($ 14.1 billion) for the final three months of last year, compared with 9.2 trillion won a year earlier. The result, however, missed expectations. Analysts polled by financial data firm FactSet expected 16.2 trillion won in operating profit.