Samsung Electronics logs record-high revenue in Q3

Insight Online News

Seoul, Oct 8 : South Korea’s tech behemoth Samsung Electronics logged its record-high revenue in the third quarter, the company said Friday.

Samsung’s preliminary revenue reached a fresh quarterly high of 73 trillion won (61.2 billion U.S. dollars) in the July-September quarter, up 9 percent from a year earlier.

It topped the previous high of about 67 trillion won (56.1 billion U.S. dollars) tallied in the third quarter of last year.

Operating profit surged 27.9 percent over the year to 15.8 trillion won (13.2 billion U.S. dollars) in the third quarter.

The profit slightly missed market expectations of around 16 trillion won (13.4 billion U.S. dollars), but it marked the second-highest quarterly reading in the company’s history.

Net income and detailed earnings on each business unit will be announced later this month after an external audit and the board of directors’ approval.


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