Samsung Electronics says third-quarter operating profit likely nearly tripled from a year ago

SEOUL (Reuters) – Tech giant Samsung Electronics Co Ltd (005930.KS) estimated on Friday its third-quarter operating profit nearly tripled from a year earlier, beating expectations as strong memory chip prices likely padded margins.

Samsung said its July-September profit was likely 14.5 trillion won ($ 12.81 billion), compared with an average forecast of 14.3 trillion won from a Thomson Reuters survey of 20 analysts.

Revenue likely rose 29.7 percent from a year earlier to 62 trillion won, Samsung said in a regulatory filing.

The South Korean company did not elaborate on its performance and will disclose detailed earnings in late October.