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Samsung Electronics predicts record high operating profit for Q3

2017/10/13 08:43

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SEOUL, Oct. 13 (Yonhap) -- South Korean tech giant Samsung Electronics Co. said Friday that its third-quarter operating profit is expected to have nearly tripled on-year and is poised to set another record.

Operating profit was estimated at 14.5 trillion won (US$12.8 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, compiled by Yonhap Infomax, the financial arm of Yonhap News Agency on 21 local brokerage houses.

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.

Shares of Samsung Electronics closed at 2,740,000 won Thursday, up 0.29 percent from the previous session. Samsung announced its earnings guidance before the market opened Friday.