Samsung reports preliminary Q3 operating profit up 782% YoY to ~$80.1B, vs. ~$81.2B est., and revenue up 127% to ~$145.7B, lower than expected (Yoolim Lee/Bloomberg)

Samsung Electronics has reported a preliminary third-quarter operating profit of approximately $80.1 billion, a 782% increase year-over-year, according to Bloomberg. This figure is slightly lower than the estimated $81.2 billion. The company's revenue for the quarter is estimated to be around $145.7 billion, a 127% increase from the previous year, but lower than expected.

The Korea Times reports that the operating profit is estimated at 107.4 trillion won, which is equivalent to $80.28 billion. This makes Samsung Electronics the first Korean company to surpass 100 trillion won in quarterly operating profit. The company's revenue for the quarter is estimated to be 195 trillion won.

According to Yonhap News, the strong performance is attributed to the high demand for semiconductors related to artificial intelligence. The company's device solutions unit, which includes the semiconductor segment, is believed to have accounted for a dominant share of the earnings. Samsung Electronics will announce its full earnings results later this month.

Brief written by urgent.news from Techmeme, The Korea Times, Yonhap News — 3 reports on this story. Machine-written — may contain errors; check the original before relying on it.