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Samsung Electronics Q3 net up 29 pct

All Headlines 08:37 October 29, 2015

By Kang Yoon-seung

SEOUL, Oct. 29 (Yonhap) -- South Korea's top tech giant Samsung Electronics Co. said Thursday its net profit advanced 29.3 percent on-year in the third quarter, apparently on the back of strong chip sales and favorable foreign exchange rates.

Net income came to 5.45 trillion won (US$4.82 billion) in the July-September period, compared to 4.22 trillion won from a year earlier, the world's leading smartphone maker said in its regulatory filing.

Sales gained 8.9 percent on-year to 51.6 trillion won in the third quarter, and its operating profit spiked 82.1 percent to 7.39 trillion won. The finalized results came in line with the earnings guidance released earlier this month.

Shares of Samsung Electronics closed 0.77 percent higher at 1,308,000 won on the main bourse Wednesday, while the market shed 0.1 percent. The report was released before the local stock market opened Thursday.


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