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Samsung Electronics preliminary profit $50.3 billion

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Staff Writer |
Samsung Electronics
Samsung Electronics   Revenue hit a new yearly high

The preliminary result for Samsung Electronics's operating profit was 53.6 trillion won ($50.3 billion) in 2017.

Revenue hit a new yearly high of 239.6 trillion won (224.8 billion U.S. dollars) in 2017, surpassing the previous high of 228.69 trillion won ($214.5 billion) in 2013.

The preliminary figures for revenue and operating profit were up 18.7 percent and 83.3 percent each from the prior year. Net income and detailed earnings of each business will be announced later in the month after auditing.

The ratio of Samsung's operating profit to revenue in 2017 reached a fresh high of 22.4 percent.

During the October-December quarter, Samsung's operating profit hit a new quarterly high of 15.1 trillion won ($14.2 billion). It was up 63.8 percent compared with a year earlier, but the figure missed market expectations of about 15.9 trillion won.

Preliminary revenue for the December quarter advanced 23.8 percent over the year to 66 trillion won ($61.9 billion).

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