Samsung says Q3 operating profits soar to $6.6 bn, but misses forecast
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 to a year ago, it fell short of market expectations and was down 12 percent compared to the previous quarter.
Revenue rose 17.35 percent to 79.1 trillion won ($57.2 billion), its highest quarterly record, Samsung said.
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