Samsung Sees Third Quarter Profit Jump As Chip Surge Eases Smartphone Recall Blues

[Ron Burgundy]

South Korea's Samsung Electronics Co expects third-quarter profit grew 5.6 percent, beating estimates, as a pickup in chip and display earnings likely offset the impact of a global smartphone recall that has roiled the tech giant. The world's biggest smartphone maker said in a brief filing on Friday its operating profit for July-September was likely 7.8 trillion won ($7 billion), compared with the 7.4 trillion won tipped by a Thomson Reuters StarMine SmartEstimate of analysts' forecasts. Revenue for the quarter likely fell 5.2 percent to 49 trillion won, the South Korean firm said, less than the Thomson Reuters StarMine SmartEstimate of 51.1 trillion won.

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