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Published on Oct 6, 2016
Samsung
Electronics' third quarter earnings estimate have topped expectations
despite a global recall of its Galaxy Note 7 smartphone.
According to the company's earnings guidance,... operating profit stood at seven-point-eight trillion won,... or nearly seven billion U.S. dollars during the July to September period.
That's up about five-and-a-half percent from a year ago,... but down over four percent from the second quarter.
Sales came to 43-point-nine billion dollars,... down more than five percent from a year ago.
The operating profit beats a recent market consensus by roughly three-hundred million dollars.
Analysts say a pick-up in Samsung's chip and display sectors likely offset losses posted by its mobile arm.
The global recall of the Note 7 is estimated to have cost Samsung roughly one billion dollars.
The tech giant has been offering replacements or a refund after some reports of the device catching fire while charging.
Samsung's finalized earnings will be announced later this month,... with a breakdown of performance by sector.
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