Samsung Heavy Industries Reports Q3 Net Income of 35.6 Billion Won, Surpassing Analyst Expectations

Seoul, South Korea-Samsung Heavy Industries Co. announced a third-quarter net income of 35.6 billion won (US$26.3 million), a marked recovery from a loss of 201.6 billion won in the same period last year.

According to a new release by Yonhap News Agency, the operating profit for the July-September quarter was 75.8 billion won, contrasting with a loss of 167.9 billion won a year ago. Sales also surged, up 44.7% to 2.02 trillion won.

The earnings exceeded market predictions, with the average net profit estimate by analysts standing at 28.6 billion won, according to a survey conducted by Yonhap Infomax, the financial data firm of Yonhap News Agency.

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