By Alex Ho
Investing.com – Samsung Electronics Co Ltd (KS:) reported on Thursday that its operating profit in the fourth quarter was down 34%, in line with previous estimates.
In a statement, the company also said net profit fell 38% to 5.2 trillion won, and that revenue fell 1% to 59.9 trillion won, also meeting estimates.
“Looking ahead to 2020, Samsung expects improvements in overall business performance but also sees continued uncertainties in the global business environment,” the company said.
The company added that earnings in the first quarter of 2020 is likely to fall to reflect low seasonal demand.
Shares of Samsung were down 2.5% in morning trade on Thursday. Despite today’s fall, they had gained almost 6% this year so far and had surged 44% in 2019.
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