Samsung Electronics Q3 guidance tops analyst estimates

Reuters

SEOUL (Reuters) - Samsung Electronics Co Ltd estimated its July-September operating profit rose 25 percent to a record 10.1 trillion won ($9.40 billion) as a strong recovery in memory chip sales countered weakening earnings growth at its mobile devices business.

The guidance, released ahead of full quarterly results due to be announced by October 25, was better than an average forecast of 9.96 trillion won by 34 analysts polled by Thomson Reuters I/B/E/S.

The South Korean firm estimated its third-quarter sales at 59 trillion won, versus a market forecast of 60 trillion won. ($1 = 1074.0000 Korean won)

(Reporting by Miyoung Kim; Editing by Ryan Woo)

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