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Oct. 27, 2021, 9:54 p.m. EDT

Samsung reports record quarterly revenue behind booming chip sales

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Jiyoung Sohn

SEOUL — Samsung Electronics Co. reported record quarterly revenue and saw net profit grow 31% on the back of booming demand for memory chips, though some growth may soon slow as the  global component shortage  stalls the assembly of various tech products.

The Suwon, South Korea, company posted a third-quarter net profit of 12.29 trillion won, or the equivalent of $10.5 billion, versus 9.36 trillion won a year earlier.

Samsung /zigman2/quotes/209800866/delayed KR:005930 +1.88% , the world’s largest memory-chip and smartphone maker, reported revenue of 73.98 trillion won for the quarter ended Sept. 30, a 10.5% rise from the prior year. The performance topped analyst estimates and highlighted the strength of demand for digital products and services that also recently have lifted the  earnings of other tech players  as diverse as Microsoft Corp. /zigman2/quotes/207732364/composite MSFT +0.25% to Advanced Micro Devices Inc. /zigman2/quotes/208144392/composite AMD +1.38% .

The South Korean tech giant is  considered an industry bellwether  as it is both a major electronics maker and components supplier to big tech firms including Apple Inc. /zigman2/quotes/202934861/composite AAPL -1.25%  and Sony Group Corp. /zigman2/quotes/208567357/composite SONY +0.84% .

Samsung’s results were driven by the strength of memory chips that go inside mobile devices, personal computers and data servers. Operating profit for Samsung’s chip division in the July-to-September quarter rose 82% from the prior year to 10.06 trillion won, while revenue rose 40% to 26.41 trillion won.

An expanded version of this report appears on WSJ.com.

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/zigman2/quotes/209800866/delayed
KR : S. Korea: KRX
75,800.00
+1,400 +1.88%
Volume: 23.65M
Dec. 2, 2021 3:30p
P/E Ratio
14.69
Dividend Yield
1.91%
Market Cap
₩500601.90 billion
Rev. per Employee
₩2.16B
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/zigman2/quotes/207732364/composite
US : U.S.: Nasdaq
$ 330.91
+0.83 +0.25%
Volume: 11.73M
Dec. 2, 2021 12:18p
P/E Ratio
36.92
Dividend Yield
0.75%
Market Cap
$2478.23 billion
Rev. per Employee
$928,663
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/zigman2/quotes/208144392/composite
US : U.S.: Nasdaq
$ 151.17
+2.06 +1.38%
Volume: 32.97M
Dec. 2, 2021 12:18p
P/E Ratio
46.65
Dividend Yield
N/A
Market Cap
$180.07 billion
Rev. per Employee
$774,841
loading...
/zigman2/quotes/202934861/composite
US : U.S.: Nasdaq
$ 162.71
-2.06 -1.25%
Volume: 73.64M
Dec. 2, 2021 12:18p
P/E Ratio
28.95
Dividend Yield
0.54%
Market Cap
$2703.28 billion
Rev. per Employee
$2.38M
loading...
/zigman2/quotes/208567357/composite
US : U.S.: NYSE
$ 120.37
+1.00 +0.84%
Volume: 278,043
Dec. 2, 2021 12:18p
P/E Ratio
17.77
Dividend Yield
0.00%
Market Cap
$152.55 billion
Rev. per Employee
$782,726
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