SEOUL, South Korea — Samsung Electronics forecast a 32% jump Tuesday in third-quarter operating profit from a year earlier, beating market expectations, as solid demand for conventional memory chips offset weaker sales of high-bandwidth memory products.
The South Korean tech giant estimated an operating profit of around 12.1 trillion won (US$8.5 billion) for the July–September period, the largest quarterly earnings since the second quarter of 2022.
The figure was 17.4% higher than the average estimate, according to South Korea's Yonhap news agency, which cited its own financial data firm.
The firm said in the regulatory filing that its sales increased 8.7% to 86 trillion won. The data for net income was not available.
Samsung is expected to release its final earnings report at the end of this month.