Samsung Profit Surges 160% – Chip Business Recovery
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Samsung Reports Earnings Rebound Driven by Chip Business
Table of Contents
Overview
Samsung Electronics reported a rebound in earnings on Thursday, with operating profit more than doubling from the previous quarter on strength from its chip business. This marks a significant recovery from the slump experienced in the June quarter.
Financial Results
Here’s a breakdown of Samsung’s third-quarter results compared with LSEG SmartEstimate:
| Metric | Actual (Korean Won) | Estimate (Korean Won) |
|---|---|---|
| Revenue | 86.1 trillion | 85.93 trillion |
| Operating Profit | 12.2 trillion | 11.25 trillion |
The South Korean technology giant’s quarterly revenue was up 8.85% from a year earlier, while its operating profit climbed 32.9% year-over-year. Samsung shares popped nearly 4% in early trading in asia.
Recovery from June Quarter Slump
The earnings represent a bounce back from the june quarter, which had been weighed down by a massive slump in Samsung’s chip business. Operating profit increased by 160% compared to June, while revenue increased by 15.5% over the same period