SEOUL (Reuters) – Samsung Electronics Co Ltd said on Friday its third-quarter operating profit likely nearly tripled from a year earlier to a new record, beating analyst estimates, as strong memory chip prices fattened margins.
The Apple Inc smartphone rival and global memory chip leader said third-quarter operating profit was likely 14.5 trillion won ($12.81 billion), compared with the 14.3 trillion won average of 20 analyst estimates in a Thomson Reuters poll.
Revenue - Percent - Year - Won - Analysts
Revenue likely rose 29.7 percent from a year earlier to 62 trillion won, versus the analysts’ average forecast of 62.1 trillion won.
Samsung shares were trading at a new record high of 2.74 million won as of Thursday, as investors bet on record earnings in 2017 driven by growing demand for memory chips with ever greater processing power.
Sales - Galaxy - Note - Smartphone - Mid-September
Brisk sales of the latest Galaxy Note 8 smartphone, launched in mid-September, further helped lift its...
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