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Samsung's Q3 Profits Expand As Memory Market Tailwinds Help Mask Note 7 Impact

by www.forbes.com
Samsung Electronics published a stronger-than-expected set of preliminary Q3 results last week, indicating that its operating profits likely rose 5.5% year-over-year to about 7.8 trillion Korean won ($7 billion), while revenues likely declined 5% to about 49 trillion won ($44.2 billion). Although the company didn’t provide additional color on the numbers, it’s possible that profitability was aided by stronger memory prices and display shipments, which helped to more than offset the initial impact of the Galaxy Note 7 recall process. Revenues were likely hurt by currency headwinds, as the Korean won was up by roughly 5% year-over-year versus the U.S. dollar over Q3. Below we outline some of the key factors that possibly drove the firm’s performance over the last quarter.
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