Samsung Q3 operating profits soar to $6.6 bn, miss forecast
The Peninsula
Seoul: South Korea s Samsung Electronics said Thursday that its operating profits soared 277 percent on year to $6.6 billion but missed expectations a...
Seoul: South Korea's Samsung Electronics said Thursday that its operating profits soared 277 percent on-year to $6.6 billion but missed expectations as it struggled to leverage demand for chips used in artificial intelligence servers.
The world's largest memory chip maker posted an operating profit of 9.18 trillion won ($6.6 billion) "largely due to one-off costs".
It also warned in a statement that "the strength of the Korean won against the US dollar resulted in a negative impact on company-wide operating profit".
Although operating profit nearly tripled compared with a year ago, it fell short of market expectations and was down 12 percent compared with the previous quarter.
Revenue rose 17.35 percent to 79.1 trillion won ($57.2 billion), its highest quarterly record, Samsung said.
