Official: Samsung made a record $7.4 billion in profit for Q3 2012
A few weeks back, Samsung gave us their Q3 earnings estimate and just now we finally have the official results: $7.4 billion in operating profits for Q3 2012. This is actually a hair above their original estimation of $7.3 billion posted earlier this month.
Compare these figures to the same time last year, and we’re looking at a 91% increase — almost double — what they made in 2011. So how did Samsung pull this off? Well, it has a lot to do with the company’s mobile business, which accounted for half of their revenue ($23.9 billion out of $47.5 billion). Guess those shiny, plastic phones are finally paying off for ‘ol Sammy, huh?
For those keeping track, Samsung raked in $4.46 billion in Q1 of this year, followed by $5.9 billion in Q2. We’ll have to wait and see how well Samsung does in Q4, during the busy holiday season, Galaxy Note 2 release, and a possible $1 billion payout to Apple over patent infringement.
[Reuters]