Samsung Electronics smashes records with Q3 operating profit
Baku, October 8, AZERTAC
Samsung Electronics smashed records with its third-quarter operating profit, marking its fourth consecutive quarter of historic earnings, a regulatory filing showed Thursday, according to Xinhua.
The South Korean tech giant reported a preliminary operating profit of 107.4 trillion won (80.2 billion U.S. dollars) in the July-September quarter, up 782.5 percent from a year earlier.
The profit continued its record-breaking streak since the fourth quarter of last year, beating market expectations of about 105.7 trillion won.
Preliminary revenue surged 126.6 percent year-on-year to 195 trillion won in the third quarter, rewriting its own record for four straight quarters.
Its operating margin reached a record of 55.1 percent amid soaring demand for semiconductors used in artificial intelligence chipsets.
The net income and detailed earnings for each business unit will be unveiled later this month. (1 won equals 0.00075 U.S. dollars).
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