Samsung Q3 profits up despite Note 7 recall
Samsung Q3 earnings guidance is in and surprisingly things are looking positive for the Korean giant. Despite Note 7’s disastrous performance and a possible $1 Billion hit, profit is up 5.6% YoY.
According to the report, the July-September quarter records 7.8 trillion Won ($7 billion) profit compared to 7.4 trillion figure last year. Revenues likely fell 5.2% to 49 trillion Won and fall short of analysts expectations of 51.1 trillion Won.
Samsung’s chip and display sections are outperforming other sectors and that alone could be the reason for the company’s stellar performance for Q3 ending September. And about whole Note 7 thing, we could expect to see its effect more in Q4.