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Samsung beats own estimates, records $9.62 billion in quarterly profit

updated 08:56 pm EDT, Thu October 24, 2013

Quarter marks return to record profits earned by the company

As the company expected, Samsung has posted record profits for the quarter. The Korean manufacturer announced 59.08 trillion won ($55.09 billion) in revenue, with profit of 10.16 trillion won ($9.62 billion). The numbers come in at seven percent higher than Samsung expected, despite modest growth in mobile of only three percent.

Samsung posted the most growth in its semiconductor business. Memory sale profit increased 12 percent, mostly due to the increase in commodity pricing and "expanded sales of high value-added DRAM for mobile/server/new game consoles." The biggest drag on Samsung's bottom line was display panels, including consumer televisions, with a 12 percent drop in profits from that sector over the previous quarter.



By Electronista Staff
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