Samsung Elec says Q4 operating profit likely down 37.4 %

Seoul: Samsung Electronics Co Ltd on Thursday said operating profit likely fell 37.4 percent in the October-December period to 5.2 trillion won ($4.74 billion), beating expectations.

The guidance, released ahead of final fourth-quarter figures due around the end of January, was higher than a 5 trillion won mean estimate of 44 analysts polled by Thomson Reuters I/B/E/S.

This would still mark the company`s fifth consecutive quarter of declining operating profit in annual terms, and means annual profit fell for the first time in three years.

Fourth-quarter sales likely fell 12.3 percent to 52 trillion won, Samsung said, compared with a mean forecast for 51.9 trillion won by the Thomson Reuters I/B/E/S survey.