Samsung Electronics logs record sales, 2nd-highest operating profit in Q3

Samsung Electronics on Thursday reported strong third-quarter earnings on the continued robust performance of its key semiconductor business.

Its net profit rose 31.3 per cent from a year earlier to 12.29 trillion won ($10.5 billion) in the July-September period, the world’s largest memory chip and smartphone vendor said in a regulatory filing.

Operating profit jumped 28 per cent in the third quarter to 15.82 trillion won, the largest since the third quarter of 2018 and the second-highest ever. Sales hit a quarterly record of 73.98 trillion won, up from 66.96 trillion won from a year earlier, reports Yonhap news agency.

On a quarterly basis, Samsung’s operating profit was up 26 per cent from the second quarter, and sales were up 10 per cent.