AI NewsWaveSamsung Electronics' Third-Quarter Operating Profit Hits 107 Trillion Won, First South Korean Company to Top 100 Trillion Won in a Quarter
Key points
- Preliminary third-quarter operating profit of 107.4 trillion won
- First South Korean company to top 100 trillion won in a quarter
- Beats the market forecast of about 106 trillion won
Samsung Electronics announced preliminary consolidated third-quarter results on Oct. 8, with revenue of 195 trillion won and operating profit of 107.4 trillion won. It is the first time a South Korean company's operating profit in a single quarter has topped 100 trillion won. AI Times reported that operating profit beat the market forecast of about 106 trillion won.
iNews24 reported that it also surpassed the quarterly operating profit of global big tech companies such as Nvidia, Apple, Alphabet and Microsoft, which have recently posted operating profit in the mid-85 trillion won range. Kukmin Ilbo reported analysis that the memory chip supercycle and stronger competitiveness in high-bandwidth memory (HBM) underlie the results.