Samsung Brings In $7.4 Billion In Latest Quarterly Earnings Report

Apple is understandably proud of moving 17 million iPhones in its latest quarter, but Samsung has some even more gaudy numbers. The electronics giant just released its Q3 2012 earnings, and they're huge. Really huge. The company posted record operating profits of 8.12 trillion won on consolidated revenues of 52.18 trillion won, which coverts to profits of around $7.4 billion. That's profit, in just three months. On the profit side, Samsung saw an increase of 91% year-over-year, which is going to be pretty tough to beat.

Samsung's solid performance is mainly attributed to increased sales of handheld phones and stronger demand for display panels. The Mobile Communications Business posted 26.25 trillion won in revenue for the quarter, accounting for more than half of Samsung's total revenue. As for the display panel segment, increased shipments of Organic Light-Emitting Diode (OLED) and Liquid Crystal Display panels used in tablets and smartphones, as well as TVs drove up profitability.

Boosted sales of Galaxy products no doubt attributed to the increase, thankfully overshadowing weaker semiconductor sales. More details can be found in the full release below.
Tags:  Samsung, earnings