Seoul, Oct 31
Samsung Electronics on Thursday said its net profit surged in the third quarter, but its sluggish artificial intelligence chips weighed heavily on its flagship semiconductor business.
The tech giant posted a net profit of 10.1 trillion won ($7.3 billion) for the July-September period, up 72.8 per cent from a year earlier, the company said in a regulatory filing, news agency reported.
Its operating profit surged 277.4 per cent to 9.18 trillion won from 2.43 trillion won a year ago. Revenue rose 17.3 per cent to 79.09 trillion won, setting a new quarterly record and surpassing the previous high of 77.8 trillion won from the first quarter of 2022.
The operating profit was 10.8 per cent lower than the average estimate, according to a survey.
Samsung Electronics said the company's profit was negatively impacted by the strong won, which reduced its operating profit by 500 billion won compared to the previous quarter.