Quarterly operating profit up 26 percent, semiconductor sales up drastically
It's earnings time, and the next company up to report its financials from Q3 2013 is Samsung. Riding solid growth in nearly all of its major divisions, Samsung posted huge sales and record profits for the quarter — here are the highlights:
- Sales of $55.6 billion, up from $49.1 billion last year
- Record operating profit of $9.65 billion, up from $7.58 billion last year
- Net profit of $7.75 billion, up from $6.17 billion last year
Samsung saw year-over-year growth in nearly all of its divisions, with the largest jumps coming in the semiconductor and mobile divisions. In terms of smartphones, Samsung claims shipments increased quarter-over-quarter, primarily driven by "mass-market models" with high-end model shipments staying flat. Tablet sales "sharply increased" as well, due primarily to the launch of its latest Tab 3 lineup.
Looking forward to Q4, Samsung naturally expects demand for its smartphones and tablets to grow with the holiday shopping season. Growth is expected to be evenly split between developed and emerging markets for phones. Demand for its products from other divisions are also expected to grow with the increased sales of other company's products in the holidays.