Samsung Electronics Projects Surge In Q3 Profit

Samsung Electronics Co SSNLF projects a surge in its operating profit for the third quarter. Samsung projects its operating profit to surge 90.5% to 8.1 trillion won (US$7.3 billion), versus KRW4.25 trillion, in the year-ago period. It expects sales to rise 26% to KRW52 trillion from KRW41.27 trillion. However, analysts were expecting an operating profit of KRW7.5 trillion on sales of KRW51.9 trillion. Samsung shares closed at $1,250.00 yesterday.