SEOUL, Oct. 29 (Xinhua) -- Samsung Electronics, South Korea's tech giant, posted a double-digit growth in the third-quarter operating profit thanks to recovery in global demand, the company said on Thursday.
Operating profit reached 12.35 trillion won (10.9 billion U.S. dollars) in the July-September quarter, up 58.8 percent from a year earlier. It was the highest in two years since the third quarter of 2018.
Revenue expanded 8.0 percent to hit a record high of 66.96 trillion won (59.1 billion U.S. dollars) in the quarter, and net income advanced 48.9 percent to 9.36 trillion won (8.3 billion U.S. dollars).
Samsung said in a statement that reopening of key economies led to significant increase in consumer demand even as the COVID-19 pandemic continued around the world.
Outlook for the fourth-quarter earnings was blurred by the COVID-19 resurgence in Europe and the United States.
Samsung said it expected profit to decline in the fourth quarter amid weakening memory chip demand from server customers and intensifying competition in mobile phones and consumer electronics. Enditem
