Samsung's Q3 Profit Misses Expectations

Seoul: Samsung Electronics on Tuesday estimated its third-quarter (Q3) operating profit nearly tripled, but missed market expectations due to the lukewarm performance of its high-end memory chips used in artificial intelligence (AI) computing.

The world's biggest maker of memory chips expected an operating profit of 9.1 trillion won ($6.8 billion) for the third quarter, up 274.5 per cent from a year earlier, Samsung Electronics said in a regulatory filing. But operating profit retreated 12.8 per cent from three months earlier.

Revenue increased 17.2 per cent to a record 79 trillion won for the July-September period.