Samsung to experience a profit hike

Samsung Electronics Co Ltd’s third-quarter profit likely jumped 58% to its highest in two years, beating estimates from analysts who pinned the rise on smartphone sales recovery and a rush order of chips from Huawei Technologies Co Ltd.
The South Korean tech giant said on Thursday operating profit was likely 12.3 trillion won ($10.6 billion) for the three months ended September. That compared with a Refinitiv SmartEstimate of 10.5 trillion won and would be the highest since the 17.57 trillion won of the third quarter of 2018.
Revenue likely rose 6% from the same period a year earlier to 66 trillion won, the company said.
Samsung released only limited data in Thursday’s regulatory filing ahead of the release of detailed earnings figures later this month. (Source : economictimes.com)