Samsung net profit surges 25%

Samsung's (SSNLF, SSNGY) Q3 net profit, excluding minority interest, jumped 25% to 8.05T won ($7.76B), above forecasts of 7.94T won.

Sales climbed 13.2% to 59T won.

Operating profit +26% to 10.16T won, but that represents a slowdown from 47.5% growth in Q2.

Operating profit at the mobile unit rose 19% to 6.7T won, with smartphone shipments climbing in the "mid-10% range" and tablet sales in the "mid-20%" range.

Operating profit at the chip division more than doubled to a three-year high of 2.06T won, boosted by stronger chip prices and tighter supply

Income at the consumer-electronics division dropped to 3450B won from 400B won, while earnings at the display division fell to 980B won from 1.17T.

Samsung expects an extra $1.5T won ($1.4B) payment from Corning (GLW) after the latter agreed to acquire the South Korean company's display unit out of their LCD glass joint venture.

Samsung's shares -0.2% in Seoul. (PR)

Comments (0)
Be the first to comment
DJIA (DIA) S&P 500 (SPY)
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs