Samsung Electronics logs record-high profit on memory chips - KOAA.com | Continuous News | Colorado Springs and Pueblo

Samsung Electronics logs record-high profit on memory chips

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SEOUL, South Korea (AP) -

Samsung Electronics says its third-quarter earnings nearly tripled to a record high as its semiconductor division posts its highest profit ever.
The South Korean company said Tuesday its July-September net income surged 150 percent to 11 trillion won ($9.8 billion), compared with 4.4 trillion won a year earlier.
The result beats analysts' consensus of 10.9 trillion won, according to financial data provider FactSet.
Sales rose 30 percent to 62 trillion won ($55.1 billion) while operating profit nearly tripled from the previous year to 14.5 trillion won ($12.9 billion), in line with its preview.
Samsung, the world's largest maker of memory chips and smartphones, has continued its record-breaking earnings streak even as its de facto chief was convicted to five-years in prison on bribery thanks to a boom in memory chips.

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