Samsung posts record profits in Q3 2017
Samsung recently released its earnings guidance for the third quarter of this year. The guidance predicted that the company was on track for another record quarter. Samsung today released its Q3 2017 earnings results and it has indeed posted its highest ever quarterly profits.
Samsung brought in revenues of 62 trillion won or $55 billion and posted an operating profit of 14.5 trillion won or $12.91 billion. This is the highest ever operating profit that Samsung has posted, overtaking last quarter’s 14 trillion won or $12.1 billion operating profit.
Samsung’s Record Profits
As previously reported, the semiconductor business was the biggest contributor of revenue for the company. Samsung saw strong demand for memory chipsets for mobile devices and servers. The semiconductor division accounted for two-thirds of the operating profit, it registered an increase of 146.7 percent year-over-year.
Samsung pointed out that its display panel business posted an earnings decline even though sales of flexible OLED panels for premium smartphones expanded.
The mobile division saw strong shipments bet earnings declined quarter-over-quarter due to higher sales of mass-market devices. Since there’s a lower profit margin on those devices, the earnings from the mobile division declined in the quarter ending September 2017.
Samsung expects tight supply and demand conditions to continue for the semiconductor business. It expects earnings to grow from this business. Samsung is now on track for a record full-year profit.