Samsung’s third-quarter profit more than doubles, beating estimates as chip recovery gathers pace

Samsung Electronics reported a rebound successful net connected Thursday, with operating nett much than doubling from the erstwhile 4th connected a rebound successful its spot business. 

Here are Samsung's third-quarter results compared with LSEG SmartEstimate, which is weighted toward forecasts from analysts who are much consistently accurate:

• Revenue: 86.1 trillion Korean won vs. 85.93 trillion won 
• Operating profit: 12.2 trillion won vs. 11.25 trillion won

The South Korean exertion giant's quarterly gross was up 8.85% from a twelvemonth earlier, portion its first-quarter operating nett climbed 32.9% year-over-year. 

The net correspond a bounce backmost from the June quarter, which had been weighed down by a monolithic slump successful Samsung's spot business. Operating nett accrued by 160% compared to June, portion gross accrued by 15.5% implicit the aforesaid period. 

Samsung Electronics, South Korea's largest institution by marketplace capitalization, is simply a starring supplier of representation chips, semiconductor foundry services and smartphones.

Samsung's spot concern reported a 19% summation successful income from the June quarter, with its representation concern mounting an all-time precocious for quarterly sales, driven by beardown request from artificial intelligence.

The third-quarter operating nett besides bushed Samsung's ain guidance of astir 12.1 trillion Korean won.