Samsung Electronics Q3 Net Income Plummets 37.8% to 5.84 Trillion Won

SEOUL — Samsung Electronics Co. disclosed its third-quarter net income of 5.84 trillion won (US$4.3 billion) on Tuesday, marking a 37.8% decrease from the same period a year ago. According to a According to Yonhap News Agency, regulatory filing, the company reported that its operating profit for the July-September period stood at 2.43 trillion won, down 77.6% from a year earlier. Sales during the same period also took a hit, falling 12.2% to 67.4 trillion won.

Despite the sharp downturns, the company's operating profit outperformed expectations, being 32.6% higher than the average estimate in a survey conducted by Yonhap Infomax, the financial data division of Yonhap News Agency. No estimates for net profit were available.

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