Samsung Electronics expects to post all-time high earnings in Q3

Samsung Electronics said Friday that the company expected to log quarterly sales of 73 trillion won ($61.2 billion), up 9 percent from a year ago, surpassing 70 trillion won for the first time in the company’s history.

The previous record in quarterly sales for the firm was 66.9 trillion won, set in the third quarter of 2020.

According to Samsung’s earnings guidance, its operating profit during the July-September period has also increased 27.94 percent on-year, or by 15.8 trillion won.

The operating profit in the third quarter was the second-highest figure on record.

The South Korean tech giant’s earnings improved on swift sales of semiconductors and smartphone products, industry sources said.

More specific details of Samsung Electronics’ performance will be revealed during the company’s earnings call, scheduled for Oct. 28.

Shareholders of Samsung Electronics can submit questions via the company’s official website, prior to the earnings call.

Meanwhile, the stock price of Samsung Electronics remained relatively unchanged in early Friday trading, despite the company’s positive earnings report.

As of noon Friday, the stock price of Samsung Electronics remained under 72,000 won, going slightly up from the previous day at 71,600 won.

(ws@heraldcorp.com)