Samsung Elec hits another record-high OP of $12.8bn in Q3

2017.10.13 13:42:05 | 2017.10.13 15:45:25
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Samsung Electronics Co. achieved another record-high quarterly performance in the July-September period, as its operating profit nearly tripled on-year to 14.5 trillion won ($12.8 billion) driven by a huge boom in the global semiconductor market and brisk sales from its Galaxy series smartphones.

Revenue jumped nearly 30 percent to 62 trillion won in the period, the company announced in a preliminary regulatory filing on Friday.

Samsung Electronics shares ended Friday down 1.46 percent at 2,700,000 won as investors took profit from a week-long rally.

The company’s operating profit beat market estimates of 14.1 trillion won. Market watchers speculate nearly one-third of those earnings came from its memory chip business.

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Samsung Electronics is unrivaled in the global memory chip market which is now in a super cycle on stronger demands for high-performance IC chips in computers and mobile devices. The company has fattened its margin on this boom and is poised for further growth in the following quarter.

Mobile phone business is also a strong enabler of Samsung’s stellar quarterly performance. The mobile phone division is estimated to have generated more than 3 trillion won in the period, recovering fast from fire-prone battery issues a year earlier.

Q3 results by business division will be released with the company’s full earnings report later this month.

By Song Sung-hoon

[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]

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