Seoul: Samsung E and A Co. on Thursday reported its fourth-quarter net income of 111 billion won (US$77.3 million), marking a decline of 1.2 percent from a year earlier. In a regulatory filing, the company revealed that its operating profit for the October-December period increased by 9.6 percent year-on-year to 295.8 billion won, despite a revenue decrease of 8.8 percent to 2.57 trillion won.
According to Yonhap News Agency, the earnings fell short of market expectations, with the average estimate of net profit by analysts pegged at 137.7 billion won, as per a survey conducted by Yonhap Infomax, the financial data arm of Yonhap News Agency.