SEOUL: Samsung Electronics on Thursday said its net profit shot up 21 per cent in the third quarter from a year earlier with the chip segment posting a record performance amid the artificial intelligence (AI) industry boom.

Net profit came to 12.22 trillion won ($8.6 billion) in the July-September period, up 21 per cent from the 10.1 trillion won tallied a year earlier, the company said in a regulatory filing.

Operating profit for the three-month period surged 32.5 per cent on-year to 12.16 trillion won. Revenue increased 8.8 percent to 86.06 trillion won, reports Yonhap news agency.

The earnings beat market expectations. The average estimate of net profit by analysts stood at 10.13 trillion won, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.

T

See Full Page