Strong memory-chip outlook spurs Samsung to new high
The electronics giant’s shares surged 7.1% despite weaker Galaxy smartphone sales
08 January 2021 - 10:12
Seoul — Samsung Electronics shares rose 7.1% to a record high in Seoul on Friday amid signs of a rebound in the memory-chip market and off the back of a surge in earnings.
South Korea’s biggest company posted a 26% increase in operating income to 9-trillion won for the three months ended December in preliminary results. That compares with a 9.52-trillion won average of analyst forecasts. Sales for the quarter were 61-trillion won. The company didn’t provide net income or break out divisional performance, which it will report later in January when it releases final results...
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