Samsung Posts Record Operating Profit in Q3
01 November, 2018
Samsung posted record operating profit of more than US$15.4 billion in the third quarter of this year, the company said Wednesday. The result was up nearly 21 percent on-year and beat its estimate released earlier this month.
The company posted sales of $57.5 billion, up 5.5 percent on-year. Its chip unit made the biggest contribution to earnings with record operating profit of nearly $12 billion. Its IT and mobile business posted moderate operating profit of around $2 billion. The consumer electronics division recorded operating profit of $491 million.
Samsung expects earnings growth to be moderate in the fourth quarter, as the memory chip market enters a period of seasonal weakness, lowering the prices of DRAMs and NAND flash memory chips.
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