Thursday, October 12, 2017

Q3 2017: Samsung forecasts record earnings.



Samsung Electronics said on Oct. 13 that its third-quarter operating profit is expected to have nearly tripled on-year.

Operating profit was estimated at 14.5 trillion won (US$12.80 billion), compared with 5.2 trillion won tallied a year earlier, the company said in a regulatory filing. 

Sales also probably surged 29.65 percent to 62 trillion won in the July-September period from a year earlier.

The operating profit figure came in line with the market‘s consensus of 14.3 trillion won.

Samsung did not announce the performance estimates of each business division, although the chip business is anticipated to have played a key role in the record-beating report. The company is set to release its final earnings report later this month.

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