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Samsung Electronics posts better-than-expected operating profit in Q3

Published: October 08, 2019 12:34:11 | Updated: October 09, 2019 18:04:16


FILE PHOTO: The logo of Samsung Electronics is seen at its office building in Seoul, South Korea, July 4, 2017. REUTERS/Kim Hong-Ji/File Photo

Samsung Electronics, South Korea's tech behemoth, posted the better-than-expected third-quarter operating profit, a regulatory filing showed Tuesday.

The preliminary figure for operating profit was 7.7 trillion won (6.4 billion US dollars) in the July-September quarter, topping market expectations of about 7.1 trillion won (5.9 billion US dollars).

It tumbled 56.2 per cent compared with the same quarter of last year when Samsung recorded its record operating profit, but it was up 16.7 per cent from the previous quarter.

Samsung's operating profit moderately recovered this year after logging 6.2 trillion won (5.2 billion US dollars) of profit in the first quarter, Xinhua news agency reported.

The preliminary revenue was set at 62 trillion won (52 billion US dollars) in the third quarter, surpassing the market consensus of around 61 trillion won (51 billion US dollars).

The revenue was down 5.3 per cent from a year earlier, but it was up 10.5 per cent from the previous quarter.

Detailed earnings on each business unit would be announced later this month after an external audit and the board of directors' approval.

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