Samsung's profit triples in Q4

Samsung Electronics

- YOOLIM LEE

A large electronic screen advertises the Samsung Galaxy Z Fold7 smartphone in Seoul yesterday.

(AFP)

Co's quarterly profit more than tripled to a record high after global demand for Al servers sharply lifted memory chip prices.South Korea's largest company reported a preliminary operating profit of 20 trillion won ($13.8 billion) in the three months through December, up 208% and beating the average analyst estimate. Revenue rose 23% to 93 trillion won, also a record. Its shares rose as much as 2.5% yesterday morning in Seoul, extending a rally that’s lifted the stock 20% since the start of the year. Rival SK Hynix Inc's shares rose 6.2%.