Samsung expect 5.6 pct rise in profit

Samsung Electronics Co said it expects third-quarter operating profit rose 5.6 percent, beating estimates, as a pickup in chip and display business likely offset the impact of a global recall of its Galaxy Note 7 smartphone.

 

The world’s biggest smartphone maker said in a brief regulatory filing July-September profit was likely 7.8 trillion won ($7 billion), compared with the 7.4 trillion won tipped by a Thomson Reuters StarMine SmartEstimate of analysts’ forecasts, and the 7.4 trillion won it reported a year earlier.

 

Revenue for the quarter likely fell 5.2 percent to 49 trillion won, Samsung said.

 

Samsung’s filing disclosed only overall numbers, giving no details of how its various businesses performed in the quarter.

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