Samsung Electronics says third-quarter operating profit likely nearly tripled from a year ago

Tech giant Samsung Electronics Co Ltd estimated on Friday its third-quarter operating profit nearly tripled from a year earlier, beating expectations as strong memory chip prices likely padded margins.

Samsung said its July-September profit was likely 14.5 trillion won ($12.81 billion), compared with an average forecast of 14.3 trillion won from a Thomson Reuters survey of 20 analysts.

Revenue likely rose 29.7 percent from a year earlier to 62 trillion won, Samsung said in a regulatory filing.

The South Korean company did not elaborate on its performance and will disclose detailed earnings in late October.

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)