Samsung's Market Cap Loses $8 Billion on Profit Growth Concerns

Samsung
Feed-twFeed-fb

Samsung is off to a rocky start this year.

Samsung Electronics' stock declined by nearly 5% in trading Thursday on the Korea Stock Exchange, shaving off $8.8 billion from the company's market cap, according to The Wall Street Journal. The drop comes amid growing concerns that Samsung's profit growth is slowing

The South Korean company is expected to report an operating profit of more than $9 billion for the fourth quarter, according to a survey of analysts. That's more than the overall revenues of many tech companies, but it represents a 9.2% increase from the same quarter a year earlier. By comparison, Samsung's profit in the third quarter was up 26% year-over-year. Read more...

More about Samsung and Business Go to Source