real-time news and commentary for investors
Friday, Oct 4
Samsung estimates continued record profit
- Samsung (SSNLF.PK) has estimated that its operating profit climbed 22.8-27.8% to another quarterly record of 9.9-10.3T won ($9.2-9.6B) in Q3, in line with consensus of 9.96T won.
- The company expects that sales grew 11-15% to 58-60T won vs forecasts of 59.7T won.
- Samsung didn't provide estimates for net income or earnings for each division. Its final results are due out at the end of the month.
- "Despite record-high earnings, doubts over the sustainability of smartphone-driven profits hint at an overall valuation discount for Samsung," says HMC Investment & Securities analyst Greg Roh.
- Shares +0.6% in Seoul.